Snapshot: Copper spot market in Shanghai

SHANGHAI, Apr 9 (SMM) – Traders were actively looking to sell copper in the Shanghai spot market on the morning of Monday April 9. While they offered the red metal at a premium of 60-120 yuan/mt, transactions were mostly concluded at a premium of 70-100 yuan/mt.

Standard-quality copper was heard traded at 50,320-50,460 yuan/mt and high-quality copper was at 50,340-50,500 yuan/mt, SMM learned.

However, as the SHFE contract rose to close to 50,400 yuan/mt, trading became limited even though sellers were willing to offload their cargoes at a premium of 30-70 yuan/mt.  Buyers were mostly waiting for a better price.

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