Spot Copper Price Movement on Jun. 12

SHANGHAI, Jun. 12 (SMM) – Spot copper premiums were quoted between positive RMB 130-200/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,680-54,740/mt, and RMB 54,720-54,800/mt for high-quality copper. As SHFE copper prices slid by over 1%, market pessimism was growing. In this context, spot copper premiums also slipped as cargo-holders became more willing to move goods for cash and led to a continuous increase in market supply. However, both traders and downstream producers chose to stand on the sidelines, leading to more lackluster market activity compared with the previous day.