Copper spot market quiet with cautious buyers

SHANGHAI, Apr 25 (SMM) – Spot copper in the Shanghai market was offered at a premium of 260-310 yuan/mt over the SHFE 1805 contract on Wednesday April 25. This compared with a premium of 250-320 yuan/mt in the previous day. 

Trading stayed lacklustre from the start of this week as buyers hesitated on the fluctuation of copper prices in recent weeks, SMM learned.

Due to weak buying interest, sellers lowered offers to a premium of 260 yuan/mt for standard-quality copper and a premium of 290 yuan/mt for higher-grade copper at noon, but still saw few transactions. The spot premiums of hydro-copper remain flat from the previous day at 200-220 yuan/mt. 

At noon, higher-grade copper mostly traded at 51,700-51,820 yuan/mt and standard-quality copper traded at 51,680-51,800 yuan/mt.

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