Shanghai Spot Copper Price Movement on Apr. 27

SHANGHAI, Apr. 27 (SMM) – Discounts on spot copper were quoted between negative RMB 110-50/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 58,200-58,280/mt, and RMB 58,230-58,350/mt for high-quality copper. SHFE copper prices rebounded marginally after a high open, so spot copper discounts expanded from the previous day. As losses for imported copper continued, domestic copper cargo-holders become more willing to move goods for cash generation, leading to stable market supply. Some downstream producers opted to replenish stocks ahead of the May Day holiday, but risk aversion was still strong.