Shanghai Spot Copper Offered between Discounts of RMB 70/mt and RMB 10/mt (Nov. 20, 2015)

SHANGHAI, Nov. 20 (SMM) – In Shanghai market, spot copper traded between discounts of RMB 70/mt and RMB 10/mt over SHFE 1512 copper on Friday, versus RMB 34,640-34,780/mt for standard-quality copper and RMB 34,660-34,820/mt for high-quality copper.

Downstream buyers cut purchase following continuous buying in the morning with mainstream prices between discounts of RMB 50/mt and premiums of RMB 10/mt. In the afternoon, cargo holders rushed to sell, throwing imported copper at discounts of RMB 60-80/mt. And high-quality copper quoted at discounts of RMB 10/mt. However, trades still remained softening with imported copper accounting for a large number.