Shanghai Spot Copper Offered between Discounts of RMB 30/mt and Premiums of RMB 30/mt (Oct. 21, 2015)

SHANGHAI, Oct. 21 (SMM) – On Wednesday, spot copper was offered between discounts of RMB 30/mt and premiums of RMB 30/mt in Shanghai, versus RMB 38,920-39,120/mt for standard-quality copper and RMB 38,960-39,160/mt for high-quality copper.

Early in the morning, cargo holders were unwilling to sell and quoted between discounts of RMB 30/mt and premiums of RMB 20/mt. Trading was left muted. However, transactions picked up following a slump in SHFE copper. Price offers also traced up modestly between discounts of RMB 30/mt and premiums of RMB 30/mt. As a whole, sellers held prices firm and spot supply was tightened but traders only accepted cheap prices. Overall trading activities stayed softening.