Amid Sluggish Trading During Contract Rollover, Spot Discounts in North China Widened Further [SMM North China Spot Copper]

SMM, July 15:

Today, in North China, #1 copper cathode spot prices against the front-month contract were reported at an average discount of 160-120 yuan/mt, with the average discount at 140 yuan/mt, down 110 yuan/mt from the previous trading day, and the average transaction price was 105,095 yuan/mt, up 820 yuan/mt from the previous trading day. Futures continued to rise coupled with disturbances from the contract rollover, downstream inquiries were scarce, and purchase willingness remained sluggish; suppliers' willingness to sell increased somewhat, but end-user buying power was insufficient, trading on the floor remained sluggish, and spot premiums in North China weakened further. Today, the purchase sentiment for copper cathode in North China was 1.75, down 0.09 from the previous trading day, and the selling sentiment was 2.58, up 0.09 ().