Spot Copper Price Movement (2013-6-7)

SHANGHAI, Jun. 7 (SMM) – Spot copper in Shanghai was offered at a discount of RMB 0-80 and premium of RMB 0-100/mt over SHFE 1306 copper contract prices on Friday. Traded prices for standard-quality copper were between RMB 53,400-53,550/mt, and RMB 53,500-53,700/mt for high-quality copper. SHFE 1310 copper contract prices inched down. Spot copper supply was plentiful and premium was stable. Some middlemen entered the market in the morning, but downstream producers continued to purchase based on orders. Market should turn quiet in the afternoon.