Spot Copper Premiums Slip to RMB 40-120/mt (Jul. 13, 2015)

Published: Jul 13, 2015 19:10

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n Shanghai market, spot copper was offered RMB 40-120/mt higher than SHFE 1507 copper on Monday.

SHANGHAI, Jul. 13 (SMM) – In Shanghai market, spot copper was offered RMB 40-120/mt higher than SHFE 1507 copper on Monday. Traded prices were RMB 40,860-40,960/mt for standard-quality copper and RMB 40,880-41,000/mt for high-quality copper.

Price gap between SHFE 1507 and 1508 copper widened above RMB 500/mt. Traders cut their price offers with the upcoming deliver day, increasing supply in market. Copper imports also grew in market. Buyers only requested for quotation, leaving trades quiet. Some traders purchased for term contracts and few speculators entered market, waiting for further price falls. Downstream buyers planned to purchase after the delivery.

spot copper prices

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