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Spot Copper Trading Improves in Shanghai after Dip-Buyers Rush in Market, SMM Reports
Aug 16,2017 17:19CST
smm insight
Source:SMM
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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