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Tags: copper prices,  aluminum prices,  aluminium sheet,  zinc prices,  tin prices,  nickel prices

SHANGHAI, Nov. 3 (SMM)-- Copper: The most active SHFE 1501 copper contract dipped to RMB 47,130/mt during Thursday's night session right after starting at RMB 47,340/mt. The price of the red metal recouped some losses subsequently to close down RMB 320/mt at RMB 47,410/mt. Trading volumes for the most active contract expanded to some 180,000 lots, but positions shed by 3,160 lots. SHFE copper hovered narrowly around RMB 47,500/mt early on Friday, and rallied to an intraday high of RMB 47,880/mt during the afternoon trading session before finishing up RMB 50/mt, or 0.1%, at RMB 47,780/mt. Trading volumes for the SHFE 1501 copper contract added by 8,340 lots, but positions decreased by 11,180 lots. Physical copper in Shanghai was quoted Friday between a RMB 60/mt discount and a RMB 130/mt premium to the SHFE 1411 copper contract. Traded prices were RMB 48,290-48,330/mt for standard-quality copper and RMB 48,330-48,390/mt for high-quality copper. Cargo holders of imported copper intended to push up physical premiums to compensate for losses. Middlemen barely entered the market, while downstream producers bought only to need ahead of the weekend, leaving modest transactions. As SHFE copper rallied during the afternoon trading session, physical copper was quoted at a RMB 30-100/mt premium and traded higher at RMB 48,450-48,550/mt. SHFE copper inventories for the week ending October 31 increased 723 mt to 95,824 mt. Cargo holders ramped up sales at high prices, with the market dominated by high-quality and inferior standard-quality copper.   Aluminum: Last Thursday night, SHFE 1501 aluminum contract started at RMB 13,875/mt, and finished the night session at RMB 13,865/mt. Trading volumes totaled 26,274 lots, with positions up 1,442 lots to 144,194 lots. 
from metal.com