SHFE Spot Copper Price Movement on Aug. 2

SHANGHAI, Aug. 2 (SMM) –Spot copper discounts were quoted between negative RMB 250-180/mt today. Trade prices for standard-quality copper were between RMB 71,630-71,700/mt, and RMB 71,650-71,750/mt for high-quality copper. SHFE copper prices moved lower after a low open, and speculators positive towards copper price gains held back goods, reducing market supply and helping spot copper discounts decrease. Traders with optimistic outlooks chose opportunities to make appropriate deals, while downstream producers made purchases at low prices, resulting in an improvement in market transactions.