Physical Premiums Fall to RMB 50-150/mt as SHFE Copper Levels Off (Oct. 20, 2014)

SHANGHAI, Oct. 20 (SMM) – Physical copper in Shanghai was quoted Monday at a RMB 50-150/mt premium to the SHFE 1411 copper contract. Traded prices were RMB 47,530-47,630/mt for standard-quality copper, and RMB 47,570-47,750/mt for high-quality copper. Cargo holders ramped up sales after SHFE copper leveled off, with the market dominated by high-quality copper. Middlemen barely entered the market, while downstream producers stayed largely on the sidelines on Monday.