Spot Premiums Narrow to RMB 0-90/mt in Shanghai Copper Market (May 5, 2015)

SHANGHAI, May 5 (SMM) – Spot copper quoted at premiums of RMB 0-90/mt in Shanghai Tuesday morning. Standard-quality copper traded at RMB 45,750-45,920/mt, and high-quality copper sold for RMB 45,800-45,980/mt.

Cargo holders rushed to sell at highs after SHFE copper dropped, highlighting oversupply pressure in spot market. Some standard-quality copper was offered on par with SHFE July-delivery copper near midday. Some hydro-copper brands quoted at discounts. Downstream buyers rarely entered the market.