SHANGHAI, May 25 (SMM) – Spot copper was still offered at premiums of RMB 20-90/mt to SHFE 1506 copper contract in Shanghai Monday morning. Standard-quality copper traded at RMB 44,780-44,820/mt, and high-quality copper sold for RMB 44,800-44,880/mt.
Hedged goods entered the market after SHFE copper tumbled, leaving ample supply in spot copper market. Spot premiums thus narrowed. Traders rarely bought spot goods, leaving trading muted.