SHANGHAI, Jul. 11 (SMM) – In the Shanghai physical market, copper was offered Friday between a RMB 100/mt discount and a RMB 40/mt premium over the SHFE 1407 copper contract. Traded prices were RMB 51,400-51,560/mt for standard-quality copper and RMB 51,450-51,650/mt for high-quality copper. As SHFE copper prices rebounded on Friday, the price gap between the SHFE 1407 and 1408 copper contracts expanded slightly to RMB 400/mt. Cargo holders initially intended to move goods at a premium seen on Thursday, but quoted prices as low as a RMB 50/mt discount by the midday. Supply remained sufficient in the market, with a variety of copper brands available. The price gap between high-quality and standard-quality copper narrowed some. Middlemen barely entered the market, and downstream producers only bought in small quantities, leaving trading activity mute on Friday.