Shanghai Spot Copper Returns to Premiums of RMB 0-50/mt (Nov. 10, 2015)

SHANGHAI, Nov. 10 (SMM) – In Shanghai market, spot copper traded at premiums of RMB 0-50/mt on Tuesday. And mainstream prices were 37,480-37,550/mt for standard-quality copper and RMB 37,500-37,580/mt for high-quality copper.

SHFE copper extended losses due to poor reading of China’s released data. SHFE 1511 copper prices grew above SHFE 1512 copper prices. And some hedged goods were moved to market, slightly growing spot supply. Spot copper premiums were stepped up after traders purchased in a large amount on Monday. This curbed speculation. Downstream buyers hesitated to buy in anticipation of further price falls. Consequently, transactions were left sluggish as a whole.