SHANGHAI, Apr. 2 (SMM) – Spot copper in Shanghai market quoted between a discount of RMB 20/mt and a premium of RMB 50/mt to SHFE 1504 copper contract Thursday morning, with standard-quality copper trading at RMB 43,400-43,630/mt and high-quality copper selling for RMB 43,450-43,650/mt.
Goods holders offered discounts of RMB 0-30/mt early today, luring traders into buying and enlivening transactions. Sellers then offered premiums of RMB 30-50/mt, and trading activities declined. Spot premiums were still heard even after a RMB 200/mt rally in SHFE copper. Prices for standard-quality copper remained firm due to limited supply. Some large trade houses built stocks.