Spot Copper Price Movement (2013-7-18)

SHANGHAI, Jul. 18 (SMM) – Spot copper in Shanghai was offered at a premium of RMB 100-280/mt over SHFE 1308 copper contract prices on Thursday. Traded prices for standard-quality copper were between RMB 50,100-50,250/mt, and RMB 50,230-50,430/mt for high-quality copper. Spot copper premium rose significantly. Middlemen were hunting for low-priced high-quality copper. Prices of standard-quality copper were almost RMB 200/mt lower than those of high-quality copper due to ample supply. Downstream producers purchased in modest amounts now that copper prices have fallen and weekend is drawing near.