Spot Premiums Narrow to RMB 30-110/mt (May 22, 2015)

SHANGHAI, May 21 (SMM) – Spot copper was still offered at premiums of RMB 30-110/mt to SHFE 1506 copper contract in Shanghai Friday morning. Standard-quality copper traded at RMB 45,180-45,240/mt, and high-quality copper sold for RMB 45,200-45,280/mt.

Cargo holders were in a rush to sell, driving up spot supply. But both traders and downstream buyers rarely entered the market at the end of the week. Supply of hydro-copper remained tight, though.