Spot Copper Price Movement on Jun. 28

SHANGHAI, Jun. 28 (SMM) –Spot copper offers were between premiums of positive RMB 20/mt and discounts of negative RMB 80/mt in Shanghai in the morning business. Traded prices for standard-quality copper were between RMB 54,700-54,850/mt, and RMB 54,750-54,900/mt for high-quality copper. SHFE copper prices rebounded by 1%, so spot copper premiums narrowed considerably, and some cargo-holders of standard-quality copper even offered discounts. Spot copper supply remained stable as cargo-holders were generally eager to move goods for cash. However, consumption remained sluggish, leaving market in surpluses.