SHANGHAI, May 11 (SMM) – Spot copper quoted between a RMB 10/mt discount and a premium of RMB 50/mt to SHFE 1505 copper contract in Shanghai early May 11. Standard-quality copper traded at RMB 45,800-45,820/mt, and high-quality copper sold for RMB 45,820-45,880/mt.
Cargo holders offered prices on par with last Friday early on Monday. Later, some traders sourced standard-quality copper in the market, and supply of the product tightened. Thus, standard-quality copper was offered at a slight premium to SHFE 1505 copper contract prices. Spot trades improved some as downstream producers bought on dips.