Shanghai Traders Hold Firm Offers for Spot Copper, SMM Reports

Published: Aug 25, 2017 14:04

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Traders held firm offers for high-quality copper due to tight supply, and discounts of imported low-quality copper widened.

SHANGHAI, Aug. 25 (SMM) – SHFE 1710 copper jumped by 1,000 yuan per tonne to above 52,000 yuan per tonne.

Copper cathode in Shanghai was offered at discounts of 130-80 yuan per tonne against SHFE 1709 copper on Friday. Standard-quality copper traded at 52,200-52,320 yuan per tonne, and high-quality copper traded at 52,220-52,350 yuan per tonne.

Trading Sees No Significant Improvement on Firm SHFE 1710 Copper, SMM Reports

Traders held firm offers for high-quality copper due to tight supply, and transaction will improve if prices are lowered. Discounts of imported low-quality copper widened to 130 yuan per tonne from 120 yuan per tonne.

Transaction saw no improvement in Shanghai’s market.

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