Spot Copper Price Movement (2013-1-7)

SHANGHAI, Jan. 7 (SMM) – Shanghai spot copper discounts were negative RMB 70-150/mt in on Monday. Traded prices were between RMB 57,470-57,550/mt for standard-quality copper, and RMB 57,520-57,650/mt for high-quality copper. Cargo holders were unwilling to move goods at low prices, causing spot discounts over the most active SHFE copper contract price to narrow. As downstream buyers rarely replenished stocks, most transactions were done by traders.