Month-End Demand Weakened, North China Premium Pulled Back Slightly [SMM North China Spot Copper]

SMM News, August 31:

In north China today, spot prices for #1 copper cathode against the front-month contract were quoted at premiums of 80-300 yuan/mt, with an average premium of 240 yuan/mt, down 30 yuan/mt from the previous trading day, and an average transaction price of 108,960 yuan/mt, down 290 yuan/mt from the previous trading day. At month-end, downstream purchase willingness weakened. Spot premiums in east China continued to rise; although local suppliers still maintained a stance of holding prices firm and holding back from selling, shipment sentiment edged up, market trading activity declined, and this dragged spot premiums in north China slightly lower. Today, purchase sentiment for copper cathode in north China was 1.33, down 0.02 from the previous trading day, and shipment sentiment was 2.47, up 0.03 from the previous trading day. ().