SHANGHAI, Apr. 17 (SMM) – Spot copper in Shanghai was quoted at a premium of RMB 130-270/mt over SHFE 1305 copper contract on Wednesday. Traded prices for standard-quality copper were between RMB 53,150-53,280/mt, and RMB 53,230-53,450/mt for high-quality copper. SHFE 1308 copper contract drifted lower after a high opening. Cargo holders were more willing to sell at lower prices to generate cash. Spot copper premium fell and supply of imported copper remained ample. Premium of high-quality copper rose towards mid-day. Downstream producers were little interested in entering the market out of their belief that rebound in copper prices will not sustain, while middlemen largely held to the sidelines, depressing overall trading.