Premiums of spot copper cathode edged higher in Shanghai on the morning of Wednesday May 6, from the level before the Labour Day holiday, as some top traders replenished inventories after the holiday.
Transactions cooled near noon when premiums were lifted to 140 yuan/mt, against the SHFE May contract, for standard-grade copper, and to 150-160 yuan/mt for high-quality copper. This was compared with active purchases by traders in the early session with overall premiums of 130-140 yuan/mt. Hydro-copper was quoted at premiums of about 100 yuan/mt as of noon.
Georgian Mining Corp (LON:GEO) is an AIM listed copper & gold development and exploration company that operates mainly in Georgia on the prolific Tethyan Belt.