SHANGHAI, Aug. 22 (SMM) – SHFE copper jumped above 51,000 yuan/tonne to the highest level in three and a half years on Tuesday.
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Cargo holders in Shanghai spot copper market raised spot discounts, but buyers were quite limited. High copper prices severely hit downstream buying appetite.
Standard-quality copper traded between 51,230-51,470 yuan/tonne, while high-quality copper traded between 51,250-51,500 yuan/tonne. Spot discounts were 100-150 yuan/tonne over SHFE 1709 copper.
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