SHANGHAI, May 28 (SMM) – Spot copper was quoted at premiums of RMB 0-70/mt to SHFE 1506 copper contract in Shanghai Thursday morning, with trading enlivened. Standard-quality copper traded at RMB 44,280-44,320/mt, and high-quality copper sold for RMB 44,300-44,380/mt.
Cargo holders offered relatively high prices Thursday and some speculators sourced goods in the market, expanding spot premiums. Hydro-copper and standard-quality copper were favored by buyers. However, tight cash by the end of the month curbed increase in trading activities.