SHANGHAI, Oct. 16 (SMM) – Spot copper was offered between discounts of RMB 40/mt and premiums of RMB 40/mt over SHFE 1511 copper in Shanghai on Friday. Standard-quality copper traded at RMB 39,850- 40,000/mt and RMB 39,900-40,050/mt for high-quality copper.

SHFE copper returned to gains following losses on Friday. Cargo holders held prices flat with Thursday early in the morning which, however, was not accepted by buyers. Sellers cut standard-quality copper prices to push trading and thus standard-quality copper inverted to discounts quickly. High-quality copper quoted between discounts of RMB 40/mt and premiums of RMB 30/mt. Trading subdued before weekend. Downstream buyers waited for delivered goods to flow into market.