Spot Copper Trading Improves in Shanghai after Dip-Buyers Rush in Market, SMM Reports

Published: Aug 16, 2017 17:19

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SHFE copper fell below 50,000 yuan per tonne today, attracting bargin hunters to enter the market.

SHANGHAI, Aug. 16 (SMM) – SHFE copper fell below 50,000 yuan per tonne today, attracting bargin hunters to enter the market.

Glencore Shuts down Copper-Cobalt Mine in Zambia

Downstream buyers increased their purchases, and traders bought goods at spot discounts around 100 yuan per tonne for high-quality copper for term contract delivery. Overall trading improved.

COMEX Copper Inventories (2017-8-16)

Traded prices are 49,870-49,950 yuan per tonne for standard-quality copper, and 49,890-49,970 yuan per tonne for high-quality copper.

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Copper prices SHFE copper prices LME copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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