Shanghai Spot Copper Price Movement on Dec. 13

SHANGHAI, Dec. 13 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 200-100/mt today. Traded prices for standard-quality copper were between RMB 57,450-57,600/mt, and RMB 57,500-57,650/mt for high-quality copper. SHFE copper prices moved lower after a low open, but spot copper supply still caused copper discounts to expand across the board. Cargo-holders of hedged copper were eager to move goods, and made modest transactions for high-quality copper. However, downstream producers were still not seen to have intention of entering the market, leading to market surpluses.