Shanghai Spot Copper Price Movement on Dec. 22

SHANGHAI, Dec. 22 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 200/mt and premiums of positive RMB 50/mt today. Traded prices for standard-quality copper were between RMB 54,850-55,000/mt, and RMB 54,950-55,150/mt for high-quality copper. As SHFE copper prices rose abruptly near the midday following a low open, and as spot copper supply was sufficient due to cargo-holders’ strong willingness in moving goods at the year-end, spot copper discounts expanded across the board. However, restriction in finance settlement resulted in extremely limited market transactions.