[Cu Price]Spot Copper Trades RMB 330-410/mt Higher than SHFE 1508 Copper in Shanghai (Jul. 27, 2015)

Published: Jul 27, 2015 17:37

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On Monday, spot copper was offered at premiums of RMB 330-410/mt over SHFE 1508 copper.

SHANGHAI, Jul. 27 (SMM) – On Monday, spot copper was offered at premiums of RMB 330-410/mt over SHFE 1508 copper. Traded prices were RMB 39,160- 39,240/mt for standard-quality copper and RMB 39,220-39,300/mt for high-quality copper in Shanghai.

SHFE copper posted a modest rise and cargo holders turned to quote higher today. More imported hydro-copper and standard-quality copper flowed into market, driving spot supply up. But trades were worse than last week.

In the afternoon, traders started to lower spot premiums to stimulus trades. But high-quality copper held firm and the price gap widened between high-quality and standard-quality copper. Limited profits were left for traders and thus they remained cautious. Downstream buyers were resultant to buy after building stocks last week. Market thus saw light trades.

spot copper prices Cu price

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