Spot Copper Price Movement on May 29

SHANGHAI, May 29 (SMM) – Spot copper premiums were quoted between positive RMB 140-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 56,550-56,600/mt, and RMB 56,580-56,700/mt for high-quality copper. SHFE copper prices fluctuated and met resistance to rebound. Spot copper supply remained stable, with high-quality copper dominating the market. The price differential between standard and high-quality copper was still limited. Downstream producers and traders were still hesitant to buy. Coupled with cash flow problems, market transaction volumes were light.