SHANGHAI, Apr. 20 (SMM) – Spot copper was offered at premiums of RMB 80-140/mt to SHFE 1505 copper contract Monday morning. Prices are RMB 44,040-44,160/mt for standard-quality copper and RMB 44,060-44,200/mt for high-quality copper.

Markets remained cautious towards China’s RRR cut. Some cargo holders offered high premiums, but demand was modest. Later, spot premiums narrowed some, luring traders into buying. Downstream buyers mostly held on the sidelines.