SMM May 28 update:
Spot #1 copper cathode prices against the front-month contract in North China were reported at a discount of 360 yuan/mt to a discount of 300 yuan/mt, with the average discount of 330 yuan/mt down 10 yuan/mt from the previous trading day, and the average transaction price at 103,340 yuan/mt, down 1,370 yuan/mt from the previous trading day. Entering the month-end period, downstream capital was constrained, and spot market transactions remained sluggish. The procurement sentiment for copper cathode in North China was 1.38, down 0.03 from the previous trading day, while the shipments sentiment was 2.25, up 0.14 from the previous trading day ().
![Month-End Downstream Demand Decline Drove Inventory Higher, Spot Premiums Fell Notably [SMM South China Copper Cathode Spot Weekly Review]](https://imgqn.smm.cn/usercenter/LbxVx20251217171714.jpeg)
