Spot Discounts Seen in Shanghai Copper Market (May 26, 2015)

SHANGHAI, May 26 (SMM) – Spot copper was quoted between a discount of RMB 30/mt and a premiums of RMB 40/mt to SHFE 1506 copper contract in Shanghai Tuesday morning. Standard-quality copper traded at RMB 44,880-44,960/mt, and high-quality copper sold for RMB 44,920-45,020/mt.

Cargo holders sold actively at the end of the month to raise cash, narrowing spot premiums. Some goods were offered at discounts near midday. Trading was quiet as downstream buyers were cautious towards purchases. A few traders bought on dips.