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[Cu] Summary - 2009/8/10 Scrap Copper Market
SHANGHAI, Aug. 10 (SMM) -- North China, today 1# bright copper was traded at RMB 43,500-43,800/mt, scrap copper prices moved upward following LME copper price trend during the weekend, so the upward room for scrap copper prices was limited today. Market supply remained tight, and transactions were general.
East China, today 1# bright copper was traded at RMB 43,700-44,000/mt, traders met difficulties in replenish stocks, while the downstream consumers purchased based on production needs, leading to weak transactions.
South China, today 1# bright copper was traded at RMB 44,200-44,400/mt, copper prices regained, creating incentives of buyers to purchase. Traders kept their offers firm, but trading sentiment was high.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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