Shanghai Spot Copper Price Movement on Mar. 28

SHANGHAI, Mar. 28 (SMM) –Discounts on spot copper were quoted between negative RMB 280-220/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 59,550-59,600/mt, and RMB 59,580-59,650/mt for high-quality copper. SHFE copper prices fluctuated narrowly after a low open. Cargo-holders were eager to move goods for cash as March ends, allowing market supply sufficient. The price gap between standard- and high-quality copper was extremely small, so market transactions were dominated by high-quality copper. Overall market activity, though, was restricted by month-end cash flow pressures.