SHANGHAI, Jun. 8 (SMM) – Spot copper quoted at premiums of RMB 50-90/mt to SHFE 1506 copper contract in Shanghai Monday morning. Traded prices were RMB 43,340-43,380/mt for standard-quality copper and RMB 43,360-43,420/mt for high-quality copper.

The price gap between SHFE 1506 and 1507 copper contracts widened to about RMB 100/mt. Some traders bought spot goods and sold in futures market. Cargo holders in spot market left spot premiums steady. Some downstream producers went bargain hunting as copper prices stabilized, but supply was limited.