Spot Copper Price Movement on Oct. 10

SHANGHAI, Oct. 10 (SMM) – Spot copper discounts were negative RMB 20-150/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 58,950-59,030/mt, and RMB 59,050-59,130/mt for high-quality copper. SHFE copper prices fluctuated weakly after starting down, so spot copper discounts narrowed. Spot copper supply was stable, but the price gap between SHFE 1210 and 1211 copper contract fell. Some traders bought high-quality copper, which increased its price differential with standard-quality copper. Downstream producers sourced to need, helping improve market activity.