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Home / Metal News / Copper Spot Premiums Plunge on Selloffs, SMM Reports

Copper Spot Premiums Plunge on Selloffs, SMM Reports

Oct 12, 2017 17:50

Source:SMM

Spot premiums on copper slumped on October 12 due to selloffs, SMM reported.

SHANGHAI, Oct. 12 (SMM) – Spot premiums on copper slumped on October 12 due to selloffs, SMM reported.

Spot premiums on high-quality copper fell from 220 yuan per tonne early this morning to 70 yuan per tonne, and those of standard-copper fell from 180 to 40 yuan per tonne.

Cargo holders sold aggressively as back structure on LME copper expanded before delivery.

Meanwhile, downstream buyers and traders refrained from buying goods after copper prices rose.

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