Lower Supply to Sustain Imported Copper Premiums in Shanghai Spot Market, SMM Says

SHANGHAI, Sept. 1 (SMM) – Supply of imported copper in Shanghai spot market will see a temporary decline, and this will allow its premiums to continue, SMM expects.

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With SHFE copper still at highs, traders in spot market asked for premiums. High-quality copper, which was offered at premiums, gained little favor. Standard-quality copper, which was offered at discounts of 30 yuan/tonne, was popular. 

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Standard-quality copper traded between 52,520-52,580 yuan/tonne, while high-quality copper traded between 52,540-52,620 yuan/tonne. Spot copper was offered at discounts of 0-30 yuan/tonne and premiums of 0-20 yuan/tonne over SHFE 1709 copper. 

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