Spot Copper Price Movement (2014-6-11)

SHANGHAI, June 11 (SMM) – In the Shanghai physical market, copper was offered Wednesday at a RMB 0-130/mt premium over the SHFE front-month copper contract. Traded prices were RMB 48,450-48,570/mt for standard-quality copper and RMB 48,530-48,670/mt for high-quality copper. As SHFE copper prices rebounded, cargo holders continued to move goods at firm prices, and middlemen also entered the market with mixed views towards copper prices. Meanwhile, downstream producers were still purchasing goods only to need. Trading activity in the market improved slightly on Wednesday, with transactions done mostly among middlemen.