SHANGHAI, Sept. 16 (SMM) – On Wednesday, spot copper traded RMB 20-70/mt above SHFE 1510 contract in Shanghai. Standard-quality copper settled at RMB 40,620-40,720/mt, versus RMB 40,640 -40,740/mt for high-quality copper.
SHFE copper fell back from highs today. Wait-and-see sentiment loomed market after the delivery for SHFE 1509 copper. Cargo holders refused to sell at lows and tried to step up spot premiums. Traders went bargain hunting while downstream producers bought as needed. Trading activity was thus softening.