SHANGHAI, Sept. 2 (SMM) – On Wednesday, spot copper traded between discounts of 40/mt and premiums of RMB 10/mt in Shanghai market. Standard-quality copper quoted RMB 39,150-39,220/mt and RMB 39,160-39,250/mt for high-quality copper.
Market was quiet before China’s Sept. 3-5 holiday for Beijing’s parade to celebrate the World War II victory. Early this morning, traders held prices firm, leaving spot copper between discounts of RMB 30/mt and premiums of RMB 10/mt. But anemic trades drove spot premiums down and some high-quality copper prices were lowered first to push trades. During the second half trading session, spot copper was all offered at discounts. Even so, trades failed to pick up. Cautious sentiment loomed market before holiday.
