Spot Trades Pick up Some in Shanghai Copper Market (May 27, 2015)

SHANGHAI, May 27 (SMM) – Spot copper was quoted between a discount of RMB 50/mt and a premiums of RMB 20/mt to SHFE 1506 copper contract in Shanghai Wednesday morning. Standard-quality copper traded at RMB 44,330-44,430/mt, and high-quality copper sold for RMB 44,370-44,470/mt.

Spot copper was quoted at discounts to SHFE 1506 copper contract early Wednesday, but some speculators sourced goods at lows later, helping bolster spot prices. High-quality copper was offered at a slight premium near midday. Transactions between traders improved,, while downstream producers still purchased as needed.