Shanghai Copper Market Witnesses Spot Discounts (Feb. 6, 2015)

SHANGHAI, Feb. 6 (SMM) – Spot copper was quoted at discounts of RMB 0-80/mt to the SHFE 1502 copper contract in Shanghai on Friday. Standard- and high-quality copper sold for RMB 41,160-41,720/mt and RMB 41,640-41,800/mt, respectively.

Cargo holders supplied goods normally, and spot discounts were reported on ample supply. Price gap between high-quality and standard-quality copper expanded. Trading turned brisk around midday as some intermediaries sourced goods in the market, but trading activities reduced later.