Spot Discounts in Shanghai Copper Market Expand (Feb. 9, 2015)

SHANGHAI, Feb. 9 (SMM) – Spot copper was quoted at discounts of RMB 10-100/mt to the SHFE 1502 copper contract in Shanghai on Monday. Standard- and high-quality copper sold for RMB 41,160-41,280/mt and RMB 41,200-41,340/mt, respectively.

Cargo holders were eager to sell after SHFE copper prices fell, expanding spot discounts to RMB 50-100/mt at one time. Some downstream buyers completing stockpiling went bargain-hunting.