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[Cu] Summary - 2009/8/17 Scrap Copper Market
SHANGHAI, Aug. 17 (SMM) -- North China, today 1# bright copper was traded at RMB 43,700-44,000/mt, cargo-holders were unwilling to move goods at low prices in anticipation of future price increases, while downstream copper rod producer purchasing interest was low, so transactions were general.
East China, today 1# bright copper was traded at RMB 43,500-43,800/mt, the downstream consumers were cautious given plunged copper prices and traders’ firm attitude towards offers depressed consumption, leading to weak transactions.
South China, today 1# bright copper was traded at RMB 43,800-44,000/mt, traders were reluctant to sell goods, and the buyers lacked confidence in market outlook, resulting in lackluster trading activities.
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