Snapshot: Copper spot market in Shanghai

Published: Apr 2, 2018 15:23

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The copper spot market in Shanghai saw active transactions on Monday April 2 as discounts stood at 110-40 yuan/mt.

SHANGHAI, Apr 2 (SMM) – The copper spot market in Shanghai saw active transactions on Monday April 2 as discounts stood at 110-40 yuan/mt. This compared with a discount of 180-120 yuan/mt on Friday March 30. Downstream consumers started to restock for the Qingming Festival holiday this week while sellers held back, SMM learned.

At noon, standard-quality copper traded at 50,050-50,190 yuan/mt, while high-quality copper traded at 50,070 -50,230 yuan/mt.

As copper inventories fell for the first time in eight weeks, SMM is upbeat on consumption in the upcoming high season.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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