SHANGHAI, Jun. 23 (SMM) – Spot copper quoted at premiums of RMB 240-300/mt to SHFE 1507 copper contract Tuesday. Trading prices were RMB 42,220-42,340/mt for standard-quality copper, versus RMB 42,240-42,400/mt for high-quality copper.
SHFE copper turned to rise, and cargo holders offered higher premiums in spot markets. Shortfalls in hydro-copper favored standard-quality copper prices, but most buyers did not accept the high prices, leaving trades muted.