Shanghai Spot Copper Price Movement on Apr. 26

SHANGHAI, Apr. 26 (SMM) –Discounts on spot copper were quoted between negative RMB 80-40/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,700-57,780/mt, and RMB 57,750-57,850/mt for high-quality copper. As SHFE copper prices continued to rebound, spot copper discounts expanded further. Some long-term copper contracts came into markets as April ends, so spot copper supply increased from the prior day. The SHFE/LME copper price ratio continued to slide, leaving speculative activity lackluster. Downstream producers were not seen to replenish stocks ahead of the May Day holiday, which caused market transactions to remain limited.