Spot Copper Price Movement (2013-1-25)

SHANGHAI, Jan. 25 (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 58,020-58,120/mt, and RMB 58,100-58,220/mt for high-quality copper. As SHFE copper prices stabilized, traders chose to buy at lows, helping enliven market transactions. Copper discounts expanded further near the midday when spot copper stood above RMB 58,000/mt, and as cargo-holders stepped up sale volumes at highs. High-quality copper still dominated spot copper supply, which remained plentiful. However, downstream producers refrained from purchasing following copper price increases. Therefore, overall copper market transactions dropped after initially rising.