Spot Copper Price Movement (2013-1-22)

SHANGHAI, Jan. 22 (SMM) –Shanghai spot copper discounts were between negative RMB 120-240/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,820-57,980/mt, and RMB 57,920-58,080/mt for high-quality copper. As SHFE copper marched higher after starting up, cargo-holders moved goods aggressively at highs, causing copper supply to increase. Copper discounts expanded all the way after both domestic and overseas copper futures prices accelerated rebounds. Traders chose opportunities to enter markets, while downstream producers also stepped up purchase volumes. Shanghai copper market activity improved notably as a consequence.