Spot Copper Price Movement on Oct. 9

SHANGHAI, Oct. 9 (SMM) – Spot copper discounts were negative RMB 50-180/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 59,250-59,350/mt, and RMB 59,350-59,500/mt for high-quality copper. SHFE copper prices rebounded considerably, so spot copper discounts widened. Cargo-holders of high-quality copper, though, insisted on firm prices, while cargo-holders of standard-quality copper expanded discounts to move goods, increasing their price spread. As fewer traders and downstream producers entered markets, market activity was not seen to improve noticeably.