End-user purchasing motivation is insufficient, spot premiums in North China edge down [SMM North China Copper Spot]

SMM July 29:

On July 29, spot #1 copper cathode in North China quoted average premiums against the front-month contract at 40 yuan/mt to 130 yuan/mt, with an average premium of 85 yuan/mt, down 10 yuan/mt from the previous trading day; the average transaction price was 105,035 yuan/mt, down 25 yuan/mt from the previous trading day; the futures maintained a stabilizing trend, downstream demand was in the traditional off-season, demand remained sluggish, and purchasing sentiment gradually weakened; suppliers' willingness to sell increased slightly, but end-user purchasing strength was insufficient, driving spot premiums in North China slightly lower. On July 29, purchasing sentiment for copper cathode in North China was 1.41, down 0.03 from the previous trading day, and selling sentiment was 2.89, up 0.02 from the previous trading day ().