Spot Copper Price Movement (2014-4-2)

SHANGHAI, Apr. 2 (SMM) – In the Shanghai physical market, copper was offered Wednesday at a premium of RMB 140-200/mt over SHFE current-month copper contract price. Traded prices were RMB 47,100-47,150/mt for standard-quality copper and RMB 47,140-4,7200/mt for high-quality copper. Cargo holders continued to push up spot premiums due to improving liquidity conditions and limited supply as a result of copper being tied up in the futures market. But trading was light at a premium of RMB 200/mt, with middlemen purchasing spot copper and selling off copper futures. Downstream producers purchased goods only as needed on Wednesday.