SHANGHAI, May 12 (SMM) – Spot copper quoted between a RMB 20/mt discount and a premium of RMB 90/mt to SHFE 1505 copper contract in Shanghai early May 12. Standard-quality copper traded at RMB 45,800-45,860/mt, and high-quality copper sold for RMB 45,820-45,920/mt.
Some speculators sourced goods in the market and some traders also purchased goods to deliver term contracts, helping lifting spot premiums. Downstream buyers purchased at lows, enlivening spot trading.
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