Spot Copper Price Movement (2013-2-22)

SHANGHAI, Feb. 22 (SMM) – Shanghai spot copper discounts were RMB 120-260/mt in the morning business. Traded prices for standard-quality copper were between RMB 57,120-57,180/mt, and RMB 57,220-57,320/mt for high-quality copper. SHFE copper prices fluctuated at current levels, but spot copper supply remained ample. Some speculators entered markets in the morning, with high-quality copper favored. In this context, the price gap between standard and high-quality copper continued expanding. Downstream producers also bought at lows, so market transactions improved.