Spot Copper Price Movement on Jun. 26

SHANGHAI, Jun. 26 (SMM) – Spot copper premium quotes were between positive RMB 250-330/mt in Shanghai in the morning business Tuesday. Traded prices for standard-quality copper were between RMB 55,180-55,240/mt, and RMB 55,240-56,320/mt for high-quality copper. SHFE copper prices were under downward trend, and cargo holders were eager to sell goods for cash. Imported and domestic copper flowed into the market, creating great pressures on spot copper and causing spot premiums kept narrowing. Some dealers with adequate liquidity took the chance to purchase, but downstream buyers were still unwilling to buy goods, leaving supply exceeding demand.