Spot Copper Offered at Premiums of RMB 90-150/mt in Shanghai Market (Apr. 28, 2015)

SHANGHAI, Apr. 28 (SMM) – Spot premiums in the Shanghai copper market were RMB 90-150/mt Tuesday morning. Prices remained at RMB 43,980-44,180/mt for standard-quality copper and RMB 44,000-44,200/mt for high-quality copper.

Some cargo holders rushed to sell in the morning and cut prices, driving down spot premiums, especially those for high-quality copper, but transactions were limited. As SHFE copper slipped more than RMB 250/mt around the midday, some buyers entered the market, improving spot trades. Downstream producers purchased more at RMB 44,000/mt.