SHANGHAI, Aug. 23 (SMM) – Sellers and buyers in Shanghai spot copper market are still in a deadlock today.
Barclays Expects Copper Prices to Severely Soften in Late 2017
SHFE copper, though falling back, are still at above 51,000 yuan/tonne. Suppliers were unwilling to cut spot discounts, while traders lacked buying appetite. No downstream producers entered the market.
Citi and Societe Generale Express Divergent Views over Base Metals Price Outlook
Standard-quality copper traded between 51,100-51,250 yuan/tonne, while high-quality copper traded between 51,120-51,280 yuan/tonne. Spot discounts were 100-140 yuan/tonne over SHFE 1709 copper.
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