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Home / Metal News / Spot Copper Trading Improves in Shanghai after Dip-Buyers Rush in Market, SMM Reports

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

Aug 16, 2017 17:19

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.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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Oct 12, 2017 17:50

SMM Insight Industry

Copper Spot Premiums Plunge on Selloffs, SMM Reports

LME Copper to Face Great downward Pressure (2017-9-22)

LME copper will fluctuate between USD 6,425-6,470/mt on Friday, and SHFE 1709 copper will drop further to RMB 49,800-50,300/mt.

Sep 22, 2017 09:34

SMM Comments

LME Copper to Face Great downward Pressure (2017-9-22)

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May 3, 2017 09:13

Industry

Major Brass, Copper Scrap prices in India decline; Copper Futures up 2.9 percent

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LME copper will trade at USD 5,750-5,850/mt on Thursday and SHFE 1705 copper will move at RMB 46,750-47,250/mt.

Mar 23, 2017 09:49

SMM Comments

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SHFE 1705 Copper Closes Higher (2017-3-15)

Labor Union of Escondida copper mine refused renegotiation. SHFE 1705 copper opened at RMB 47,610/mt today, and then rose to RMB 47,740/mt. with exodus of longs after profit-taking, SHFE 1705 copper

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Nov 28, 2016 11:06

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Why Copper Surges Recently? Will Rising Momentum Sustain? SMM Reports

Copper prices jumped November 8 following a surge in other commodities recently. SHFE 1701 copper closed at 40380 yuan per tonne, up 3.04%. Leaving of hedge investors accelerated price gains.

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

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