SHANGHAI, Jun. 2 (SMM) – Spot copper was offered at premiums of RMB 40-90/mt to SHFE 1506 copper contract in Shanghai Tuesday morning. Traded prices were RMB 43,680-43,760/mt for standard-quality copper and RMB 43,700-43,800/mt for high-quality copper.
Goods holders continued to push up spot premiums, but trading remained modest. Traders intended to buy at lower prices, while downstream buyers went bargain-hunting and favored hydro-copper. Prices of high-quality copper met resistance to increase due to sufficient supply.