SMM copper market

In spot market, SHFE copper prices fell after initially increasing in the morning business. Market supply remained ample, with domestic copper dominating the market. Spot copper discounts increased compared to Monday, with discounts quoted at negative 350-220/mt during the whole trading day. Traded price for standard-quality copper were between RMB 71,700-71,800/mt, and RMB 71,750-71,950/mt for high-quality copper. Downstream producers chose to stand on the sidelines, while some traders took the opportunity to enter into the market for hedge trading. Spot copper discounts and trading prices in the afternoon session were reported flat at morning levels. SHFE copper prices increased significantly at the tail of trading, making trading more cautious.

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