Spot Premiums Widen to RMB 140-200/mt in Shanghai (Jun. 17. 2015)

SHANGHAI, Jun. 17 (SMM) – Spot copper quoted at premiums of RMB 140-200/mt to SHFE 1507 copper contract early Wednesday. Traded prices were RMB 42,060-42,220/mt for standard-quality copper and RMB 42,080-42,260/mt for high-quality copper.

Cargo holders held goods back after SHFE copper dropped, and transactions between traders remained brisk, allowing spot premiums to expand. Downstream buyers increased purchases when prices fell to around RMB 42,000/mt.