SHANGHAI, Sept. 8 (SMM) – Spot premiums of copper dropped rapidly on September 8 due to more supplies, SMM reports.
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Hedge traders are profitable as SHFE copper continued falling. Meanwhile, cargo holders sell actively to generate cash at the week’s end.
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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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