SHANGHAI, Sept. 17 (SMM) – Spot copper premiums quoted at premiums of RMB 30-100/mt over SHFE 1510 copper in Shanghai on Thursday. Traded prices were RMB 41,000 -41,250/mt for standard-quality copper and RMB 41,020 -41,300/mt for high-quality copper.
SHFE copper posted a large rise Thursday and thus spot premiums continued to be driven up. Traders entered market in the morning and they bought spot copper and sell copper futures, increasing trading activities in market. With SHFE copper falling back, investors were keen to sell. Downstream buyers watched from the sidelines with a rally in copper prices. Transactions were mainly done among traders.