Shanghai Spot Copper Price Movement on May 10

SHANGHAI, May 10 (SMM) – Offers for spot copper premiums were between positive RMB 20-100/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 57,680-57,750/mt, and RMB 57,720-57,820/mt for high-quality copper. As SHFE copper prices showed strong resilience, hedged copper was restricted. Overall spot copper supply, though, remained stable. Downstream producers continued to buy as needed, while traders only stepped up purchases at the tail of the morning trading session. Hence, transaction volumes were smaller than the previous day levels.