SHFE Spot Copper Price Movement on Wednesday

SHANGHAI, Jul. 26 (SMM) –Spot copper discounts were quoted between negative RMB 420-300/mt on Wednesday. Trade prices for standard-quality copper were between 71,850-71,950/mt, and RMB 71,900-72,050/mt for high-quality copper. As copper prices fluctuated after a high open, spot copper discounts increased to around RMB 400/mt. Market supply was dominated by high-quality copper, as cargo-holders were reluctant to sell domestic standard-quality copper due to significantly high copper discounts. Copper prices moved around RMB 72,000/mt, trading volumes gradually contracted.