SHANGHAI, May 13 (SMM) – Spot copper was offered at premiums of 10-90/mt to SHFE 1505 copper contract in Shanghai early Wednesday. Standard-quality copper traded at RMB 46,100-46,140/mt, and high-quality copper sold for RMB 46,140-46,200/mt.
Cargo holders sold actively at highs and held prices up out of bullish mood. Quotations for high-quality copper varied largely. Some traders sourced goods at lows, but purchases made by downstream producers declined noticeably after replenishing stocks Tuesday.