Shanghai Spot Copper Price Movement on Jan. 5

SHANGHAI, Jan. 5 (SMM) –Shanghai spot copper offers were quoted between discounts of negative RMB 300-150/mt today. Traded prices for standard-quality copper were between RMB 55,650-55,950/mt, and RMB 55,750-56,100/mt for high-quality copper. SHFE copper prices moved higher after a low open, and some traders became less willing to move goods in spot markets owing to limited profits, causing spot copper supply to fall compared with the prior day. Domestic copper was especially rarely seen in the market. Downstream producers entered the market at low price levels, helping market transactions improve from the prior day’s levels.