SHANGHAI, Apr 11 (SMM) – Spot copper in the Shanghai market traded at a discount of 30 yuan/mt to a premium of 40 yuan/mt on Wednesday April 11, SMM learned. This compared with a premium of 30-90 yuan/mt on the previous day.
During the day, spot offers dipped in line with the SHFE 1806 contract which fell to 51,000 yuan/mt. While sellers were keen to destock, prices of higher-grade copper fell to a discount of 30 yuan/mt to flat against the contract. Prices of hydro-copper rose, on tight supplies, and stood close to prices of standard-quality copper.
At noon, higher-grade copper mostly traded at 51,200-51,330 yuan/mt and standard-quality copper traded at 51,170-51,300 yuan/mt.
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