Shanghai Spot Copper Price Movement on Mar. 5

SHANGHAI, Mar. 5 (SMM) –Discounts on spot copper were reported between negative RMB 220-130/mt in Shanghai in Friday’s morning business. Traded prices for standard-quality copper were between RMB 60,200-60,400/mt, and RMB 60,250-60,450/mt for high-quality copper. SHFE copper prices fell after opening higher, but spot copper prices held firm, helping copper discounts fall. The supply of standard-quality copper continued to decrease, expanding its price differential with high-quality copper. Market transactions were mainly made by traders, while downstream producers stuck to the sidelines at above RMB 60,000/mt.