Spot Copper Offered at Discount in Shanghai (Jun. 15. 2015)

SHANGHAI, Jun. 15 (SMM) – Spot copper quoted between a discount of RMB 10/mt and a premium of RMB 40/mt to SHFE 1506 copper contract early Monday. Traded prices were RMB 42,780-42,840/mt for standard-quality copper and RMB 42,800-42,880/mt for high-quality copper.

Quotations were rarely heard in spot market in the morning. Spot premiums narrowed as transactions were hardly made at premiums of RMB 50/mt. Traders and downstream buyers waited after the June-delivery copper expires, as markets expect copper to be offered at premiums after SHFE1507 copper rolled over to the front-month contract.