Spot Copper Price Movement (2013-1-21)

SHANGHAI, Jan. 21 (SMM) –Shanghai spot copper discounts were between negative RMB 120-220/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,650-57,720/mt, and RMB 57,700-57,780/mt for high-quality copper. As SHFE copper prices fluctuated at current levels, copper discounts stabilized. However, buying interest from both traders and downstream producers abated. Cargo-holders offered lower discounts to move goods for cash during the second trading session when copper futures prices slipped, but market transaction volumes remained light. Overall copper supply still exceeded demand.