Shanghai Spot Copper Price Movement on Nov. 14

SHANGHAI, Nov. 14 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 220-100/mt today. Traded prices for standard-quality copper were between RMB 58,200-58,900/mt, and RMB 58,300-59,000/mt for high-quality copper. As SHFE copper prices moved higher after a high open, spot copper discounts expanded. Some speculators were anxious to move goods for cash generation at the highs. Some traders made purchases for hedge trading, while downstream producers kept cautious at the highs. Overall, wait-and-see sentiment dominated the market.