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