SHANGHAI, Sept. 8 (SMM) – Spot premiums of copper dropped rapidly on September 8 due to more supplies, SMM reports.
Hedge traders are profitable as SHFE copper continued falling. Meanwhile, cargo holders sell actively to generate cash at the week’s end.
Spot premiums fell from 20~50 to 20~40 yuan per tonne early this morning. Spot premiums then dropped to 20 yuan per tonne for high-quality copper during the second session, with zero for standard-quality copper.
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