SHANGHAI, Nov. 3 (SMM) – In Shanghai market, spot copper traded at discounts of RMB 10-80/mt against SHFE 1511 copper on Tuesday, versus RMB 38,620-38,680/mt for standard-quality copper and RMB 38,640-38,720/mt for high-quality copper.
Cargo holders rushed to sell at highs early in the morning. Markets were filled with various brand copper and spot supply increased. Cargo holders gradually lowered their offers and spot copper was depressed to discounts of RMB 30-80/mt in the afternoon business. Higher SHFE copper prices curbed transactions. Downstream buyers maintained a wait-and-see attitude, leaving trading activities to decline.
