Shanghai Spot Copper Price Movement on Mar. 21

SHANGHAI, Mar. 21 (SMM) –Discounts on spot copper were quoted between negative RMB 320-220/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 59,450-59,600/mt, and RMB 59,550-59,700/mt for high-quality copper. SHFE copper prices lacked momentum to rise, but some hedged copper remained locked. Overall spot copper supply stayed steady, though. Cargo-holders of standard-quality copper refused to offer large discounts at lower price levels, so its price gap with high-quality copper was limited. Traders and downstream producers continued to stand on the sidelines, keeping market activity quiet.