Bigger discounts emerge in second round of China's copper auction

Chinese copper fabricators bought copper cathode at bigger discounts against exchange prices during a second batch of sales by China's state reserves administration on Thursday July 29.

The auctioned material was sold at around 70,000 yuan ($10,767) per tonne in the provinces of Zhejiang and Ningbo, bidders told Fastmarkets.

This is a discount of about 1,300 yuan per tonne against the August copper contract on the Shanghai Futures Exchange, bigger than a discount of around 1,000 yuan per tonne for the...

Published

Sally Zhang

July 29, 2021

08:07 GMT

Shanghai