SHANGHAI, Sept. 14 (SMM) – Spot copper discounts were between negative RMB 250-370/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 59,900-59,980/mt, and RMB 59,950-60,050/mt for high-quality copper. As SHFE copper prices surged by over RMB 1,500/mt, hedged copper was locked in spot markets, leading spot copper supply to decrease sharply. This restricted spot copper discounts which narrowed gradually near the midday as the price difference between SHFE 1209 and 1210 copper contract narrowed to around RMB 200/mt. High-quality spot copper was rarely seen in markets, and as copper prices rose wildly above RMB 60,000/mt, downstream producers refrained from buying, while traders chose to buy spot copper and sell SHFE copper contracts. Therefore, market transactions increased after initially falling in the morning.