Abundant Supply Further Increases Spot Copper Discounts in Shanghai (Aug. 13, 2015)

SHANGHAI, Aug. 13 (SMM) – On Thursday, spot copper discounts grew to RMB 120-200/mt in Shanghai, compared with RMB 39,320-39,160/mt for standard-quality copper and RMB 39,060-39,600/mt for high quality copper.

Cargo holders were active in selling at highs this morning. Hence, sufficient supply depressed spot discounts further. However, some traders, lured by profits, sourced copper for delivery, cutting spot discounts. But spot discounts were still left at a high level. Deals were mainly made between traders Aug. 13.