SHANGHAI, Sept. 15 (SMM) - Spot premiums on copper were quoted at 100-140 yuan per tonne on September 15, the highest from April 21, according to SMM data.
What has pushed up copper spot premiums?
Morgan Stanley: Fundamentals Not Good Enough to Keep Copper Price above $6,600
Three reasons may explain this, SMM said.
SMM Releases Copper PMI in August and September Forecast
Copper futures prices plunged over the past few days, and expanded the price spread between spot and futures prices. Purchases by downstream buyers increased after the plunge in SHFE copper. Moreover, the delivery date is nearing.
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