Spot quotes in north China inched higher last week. Spot copper was quoted with discounts of 320-40 yuan/mt, or an average discount of 180 yuan/mt last Friday, up 10 yuan/mt from two Fridays ago.
Spot quotes rose before falling, and then stabilised.
Cargoes in Shanghai were expected to be sold to north China after being delivered, affecing spot quotes in north China.
Meanwhile, selloffs of discounted cargoes in north China also weighed down spot quotes there. At the end of the week, improved downstream purchasing demand helped spot quotes stabilise.
If copper prices continue to fall this week, it is expected that spot quotes in north China will continue to move upward.
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