Spot Copper Trades in Shanghai Pick up (Mar. 16, 2015)

SHANGHAI, Mar. 16 (SMM) – Spot copper quoted premiums of RMB 0-50/mt to SHFE 1503 copper contract Monday morning. Standard-quality copper traded at RMB 42,520-42,580/mt and high-quality copper sold for RMB 42,520-42,640/mt. The price difference between SHFE 1503 and 1504 copper contracts was around RMB 150/mt and expanded to RMB 200/mt at one time. The share of high-quality copper to total supply increased, and its price gap with standard-quality copper narrowed. Some dealers bought on dips, and downstream buyers increased purchases.