Spot Premiums Narrow to RMB 0-60/mt in Shanghai Copper Market (Jun. 12. 2015)

SHANGHAI, Jun. 12 (SMM) – Spot copper quoted at premiums of RMB 0-60/mt to SHFE 1506 copper contract Friday. Traded prices were RMB 42,960-43,050/mt for standard-quality copper and RMB 42,990-43,080/mt for high-quality copper.

The influx of hedged goods following SHFE copper declines and wider spread between SHFE 1506 and 1507 copper contracts enlivened spot trades in the morning. But spot premiums narrowed quickly due to growing supply. Hydro-copper was offered at discounts. Downstream buyers sourced goods when prices neared RMB 42,000/mt.