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[Cu] Summary - 2009/8/20 Scrap Copper Market
SHANGHAI, Aug. 20 (SMM) -- North China, today 1# bright copper was traded at RMB 43,000-43,300/mt, continued declines in scrap copper prices dampened cargo-holders’ confidence, and downstream purchasing interest waned, shrinking trading volumes.
East China, today 1# bright copper was traded at RMB 43,200-43,500/mt, cargo-holders were reluctant to sell upon optimistic price outlook, while buyers remained cautious, resulting in weak transactions.
South China, today 1# bright copper was traded at RMB 43,600-43,800/mt, copper prices moved upward in the afternoon, improving cargo-holders’ confidence, while downstream consumers felt difficult to accept higher offers, so transactions were neutral.
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