Spot Copper Quoted at Premiums of RMB 30-130/mt in Shanghai Market (May 18, 2015)

SHANGHAI, May 18 (SMM) – Spot copper was still offered at premiums of 30-130/mt to SHFE 1506 copper contract in Shanghai Monday morning. Standard-quality copper traded at RMB 46,040-46,140/mt, and high-quality copper sold for RMB 46,080-46,200/mt.

Cargo holders offered high premiums after expiration of SHFE 1505 copper contract, but sales were poor. Thus, spot premiums narrowed later. Activities of dealers increased, while downstream producers only watched from the sidelines and bought on needs.