Spot copper in Shanghai was quoted at a premium of RMB 40-220/mt over SHFE 1307 copper contract prices on Wednesday. Traded prices for standard-quality copper were between RMB 49,120-49,400/mt, and RMB 49,220-49,550/mt for high-quality copper. SHFE copper moved lower after a low opening. Spot copper suppliers refrained from selling at lows. Prices of high-quality copper rose due to falling supply. Middlemen still preferred high-quality copper. Downstream producers became more interested in buying when prices fell to 49,000/mt, but were still cautious about future prices. In the afternoon, premiums for spot copper narrowed to RMB 20-180/mt, but traded prices held firm at RMB 49,150-49,550/mt.