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Spot Copper Trades in Shanghai Pick up Slightly (May 11, 2015)
May 11,2015 17:39CST
price review forecast
Source: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.

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.
 

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