Spot Copper Price Movement on Jun. 4

SHANGHAI, Jun. 4 (SMM) – Spot copper premiums were quoted between positive RMB 330-420/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,250-54,400/mt, and RMB 54,300-54,450/mt for high-quality copper. SHFE copper prices tumbled by over 3.5%, so spot copper premiums moved higher. Cargo-holders were more willing to move goods, allowing market supply sufficient. Both traders and downstream producers chose to buy at prices near RMB 54,000/mt, leading to modest market transactions.