Shanghai Spot Copper Price Movement on Feb. 24

SHANGHAI, Feb. 24 (SMM) –Spot copper discounts in Shanghai were quoted between negative RMB 430-300/mt in Friday’s morning business. Traded prices for standard-quality copper were between RMB 59,250-59,450/mt, and RMB 59,350-59,550/mt for high-quality copper. SHFE copper prices moved lower after a high open, while market transactions were restricted at RMB 61,000/mt. Spot copper supply decreased slightly, which was due largely to domestic standard-quality copper cargo-holders’ unwillingness in moving goods. High-quality copper was more favored by traders, but overall copper consumption failed to improve considerably. Market transactions were limited as a consequence.