Shanghai Spot Copper Price Movement on Mar. 26

SHANGHAI, Mar. 26 (SMM) –Discounts on spot copper were quoted between negative RMB 320-250/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 59,450-59,500/mt, and RMB 59,500-59,600/mt for high-quality copper. SHFE copper prices fluctuated in a narrow band after a high open, restricting some hedged copper to come into markets. However, cargo-holders of imported copper kept moving goods for cash generation as March ends, helping overall market supply remain stable. Spot copper discounts therefore expanded slightly compared with last Friday’s levels. Downstream producers, though, took a wait-and-see sentiment on Monday, so market transactions were mainly conducted by traders.