SHANGHAI, Jul. 20 (SMM) – SHFE copper slipped modestly. Cargo holders stepped their offers up in Shanghai on Monday, driving spot premiums up and then moving goods out. The price near RMB 40,000/mt attracted traders to buy for term contract and downstream buyers were willing to build stocks at low. Standard-quality copper and hydro-copper enjoyed large popularity. Spot premiums on high-quality copper fell slightly due to its unpopularity in market. Trades were active today.
Spot copper traded RMB 230-280/mt higher than SHFE 1508 copper today. Mainstream prices were RMB 40,240-40,400/mt for standard-quality copper and RMB 40,260-40,440/mt for high-quality copper.