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[Cu] Summary - 2009/9/16 Scrap Copper Market
SHANGHAI, Sept. 16 (SMM) -- North China, today #1 scrap copper was traded at RMB 44,800-45,100/mt, traders held optimistic price outlook, resulting in low sentiment in selling goods, while the downstream consumers purchased on an as-needed basis, so the trading sentiment was general.
East China, today #1 scrap copper was traded at RMB 45,200-45,500/mt, copper prices ended the downward trend, helping firm cargo-holders’ confidence. Offers grew significantly, and inquiries were up as well, while transactions were limited due to higher scrap copper prices.
South China, today #1 scrap copper was traded at RMB 45,500-45,700/mt, traders held back cargos upon optimistic price outlook, leading to limited market supply with reasonable prices. The downstream consumers purchased on an as-needed basis, resulting in lukewarm trading sentiment.
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