SHANGHAI, May 7 (SMM) – Spot copper quoted between a RMB 50/mt discount and a premiums of RMB 10/mt to SHFE 1505 copper contract in Shanghai early May 7. Standard-quality copper traded at RMB 45,800-45,850/mt, and high-quality copper sold for RMB 45,820-45,900/mt.
Spot copper supply remained ample, and suppliers mostly offered at discounts in the morning, luring some intermediaries into buying. Thus, spot trades picked up some. Downstream buyers also entered the market after copper prices dropped.