Trading Picks up in Shanghai Spot Copper Market (Nov. 6, 2015)

SHANGHAI, Nov. 6 (SMM) – On Friday, spot copper traded at discounts of RMB 0-60/mt in Shanghai market. Mainstream prices were RMB 37,960-38,080/mt for standard-quality copper and RMB 38,000-38,120/mt for high-quality copper.

Cargo holders were unwilling to sell at lows today, narrowing spot discounts. And spot discounts on high-quality copper returned to a par. Traders sourced goods in market and favored hydro-copper and standard-quality copper. This pushed stand-quality copper prices up. And downstream buyers also entered market. Market activities recovered significantly from Thursday and most transactions were done among traders.