Spot Copper Price Movement (2014-4-1)

SHANGHAI, Apr. 1 (SMM) – In the Shanghai physical market, copper was offered at a premium of RMB 90-150/mt on Tuesday. Traded prices were RMB 46,970-47,030/mt for standard-quality copper and RMB 47,000-47,070/mt for high-quality copper. Despite some improvement in liquidity conditions early April, cargo holders still were inclined to move goods to generate cash and inflated copper supply. High-quality and standard-quality copper prices were virtually the same, with middlemen and downstream producers mostly on guard. Market participants were concerned over the upside room in spot copper premiums in the near term.