SHANGHAI, Jun. 3 (SMM) – Spot copper was still offered at premiums of RMB 50-90/mt to SHFE 1506 copper contract in Shanghai Thursday morning. Traded prices were RMB 43,620-43,680/mt for standard-quality copper and RMB 43,640-43,740/mt for high-quality copper.
Goods holders left premiums little changed Thursday after SHFE copper declined, and speculators found it hard to source low-priced goods. Prices of hydro-copper remained firm on tight supply. Downstream buyers rarely entered the market, leaving trades light.