SHANGHAI, Jul. 17 (SMM) – On Friday, some traders purchased for term contract in Shanghai, especially favoring hydro-copper and standard-quality copper. Near noon, cheap copper was hard to source with price gap between standard-quality and high-quality copper prices narrowing. Downstream buyers purchased as needed. Thus, trades picked up slightly today.
Spot copper was offered at a premium of RMB 190-260/mt over SHFE 1508 copper. Traded prices were RMB 40,950-41,030/mt for standard-quality copper, versus RMB 40,980-41,080/mt for high-quality copper.