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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