SHANGHAI, Sept. 10 (SMM) – In Shanghai market, spot copper was offered RMB 20-60/mt below SHFE 1509 copper on Thursday, versus RMB 40,800-40,880/mt for standard-quality copper and RMB 40,820-40,900/mt for high-quality copper.
Market supply stabilized on Thursday. Huge amount of high-quality copper forced them to be traded at lows while standard-quality copper and hydro-copper enjoys high popularity. Traders thus were unwilling to sell standard-quality copper at lows but meanwhile the prices were hard to be raised further. Low prices attracted downstream buyers to enter market. Prices diverged a lot between different brand copper and this allowed transactions to be mixed. Trading activity among traders declined.