Shanghai Spot Copper Trades between Discounts of RMB 50/mt and Premiums of RMB 50/mt (Oct. 27, 2015)

SHANGHAI, Oct. 27 (SMM) – In Shanghai, spot copper traded between discounts of RMB 50/mt and premiums of RMB 50/mt on Tuesday, versus RMB 38,900-39,120/mt for standard-quality copper and RMB 38,930-39,150/mt for high-quality copper.

Traders still intended to hold prices firm and mainly quoted between discounts of RMB 40/mt and premiums of RMB 50/mt in the morning. But amply supply and poor demand drove down spot prices soon. In the afternoon business, SHFE copper grew to RMB 39,150/mt, curbing trading activities. Spot premiums on high-quality copper inverted to zero. Downstream buyers watched from the sidelines and overall transactions were left muted.