Shanghai Spot Copper Price Movement on Mar. 29

SHANGHAI, Mar. 29 (SMM) –Discounts on spot copper were quoted between negative RMB 220-150/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 58,970-59,070/mt, and RMB 59,000-59,150/mt for high-quality copper. SHFE copper prices fluctuated weakly after a low open, and spot copper supply remained stable, helping spot copper discounts narrow. The price differential between standard- and high-quality copper continued to fall. Traders and downstream producers became more willing to buy at price levels below RMB 59,000/mt, a sign of preparing for stocks before the Qingming Festival.