SHANGHAI, Jan. 18 (SMM) –Shanghai spot copper discounts were between negative RMB 100-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,580-57,640/mt, and RMB 57,650-57,720/mt for high-quality copper. As SHFE copper prices rebounded, some hedged copper was locked out of spot markets, helping copper discounts stabilize. Market players held divergence over future copper prices. Most cargo-holders chose to sell for cash ahead of the Chinese New Year holiday, while downstream producers still sourced to need at lows. Market deals thus were largely contributed by traders.
Spot Copper Price Movement (2013-1-18)
