Spot Premiums Rose While Market Activity Cooled [SMM North China Spot Copper]

SMM, March 12:

Today, spot #1 copper cathode in North China was quoted at discounts of 20 yuan/mt to premiums of 100 yuan/mt against the front-month contract, with the average price up 80 yuan/mt from the previous trading day. The average transaction price was 100,625 yuan/mt, down 610 yuan/mt from the previous trading day. As the delivery date approached, spot premiums continued to rise. After downstream buyers restocked in a concentrated manner at the beginning of the week, market activity cooled somewhat today. Today, the copper cathode purchasing sentiment in North China was 2.85, down 0.22 from the previous trading day, and shipment sentiment was 1.51, down 0.27 from the previous trading day ().