Spot Copper Trades at RMB 50-130/mt Premiums in Shanghai (Jan. 21, 2015)

SHANGHAI, Jan. 21 (SMM) – Spot copper was quoted at a RMB 50-130/mt premium to the SHFE 1502 copper contract in Shanghai on Wednesday. Standard- and high-quality copper sold for RMB 41,520-41,660/mt and RMB 41,560-41,720/mt, respectively. As SHFE copper fluctuated in a wide range and lacked impetus to rise, many cargo holders continued to sell to raise cash, leaving sufficient high-quality copper in the market. Hydro-copper prices were little changed due to limited supply. Most middlemen and downstream producers stayed out of the market on Wednesday, leaving trading quiet.