SHANGHAI, Jun. 4 (SMM) – Spot copper in Shanghai was offered at a premium of RMB 60-220/mt over SHFE 1306 copper contract prices on Tuesday. Traded prices for standard-quality copper were between RMB 53,600-53,750/mt, and RMB 53,650-53,880/mt for high-quality copper. SHFE 1309 copper contract prices rallied mildly. Premium of spot copper continued to narrow. Holders of imported copper were actively selling for cash, widening price spread with domestic copper. There was little room for arbitrage for middlemen. Trading was muted near RMB 54,000/mt. Premium should continue to fall until oversupply eases markedly.