After Delivery, Downstream Buyers Executed Long-Term Contracts, and Spot Supply Was Slightly Tight [SMM North China Spot Copper]

SMM, March 17:

Today, the average spot price of #1 copper cathode in North China against the front-month contract was reported at a discount of 60 yuan/mt, down 120 yuan/mt from the previous trading day, while the average transaction price was 100,260 yuan/mt, up 1,135 yuan/mt from the previous trading day. After delivery, downstream buyers executed long-term contracts, and coupled with relatively good recent demand in the northern market, spot supply appeared slightly tight, giving suppliers some confidence to hold prices firm. Today, the copper cathode purchasing sentiment in North China was 2.81, down 0.22 from the previous trading day, while shipment sentiment was 2.05, down 0.34 from the previous trading day ().