Spot Copper Offered at a Premium of RMB 180-230/mt (Jul. 9, 2015)

SHANGHAI, Jul. 9 (SMM) – Spot copper was offered at a premium of RMB 180-230/mt in Shanghai Thursday. Standard-quality copper traded at RMB 41,000- 41,350/mt and RMB 41,020 -41,400/mt for high-quality copper.

Copper futures on the SHFE rebounded from low. Speculators rushed to move goods out, driving spot supply up. In response, spot premiums continued to narrow. A small number of traders hunted goods at lows while downstream buyers stayed wary. As a whole, market players kept cautious.