SHANGHAI, Apr. 9 (SMM) – Spot premiums in Shanghai copper market continued to expand Thursday to RMB 50-90/mt to SHFE 1504 copper contract. Prices are RMB 43,390-43,460/mt for standard-quality copper and RMB 43,410-43,490/mt for high-quality copper.
Speculators bought on dips with SHFE copper staying weak. Some cargo holders sold goods under warehouse warrants after spot premiums widened. Downstream buyers increased purchases after SHFE copper prices declined, enlivening spot trades.