On the delivery day, trading activity was sluggish among both buyers and sellers in the market, with only sporadic purchases [SMM South China spot copper]

SMM, October 15:

Today in Guangdong, #1 copper cathode spot against the front-month contract: high-quality copper was quoted at a premium of 150 yuan/mt, down 100 yuan/mt from the previous trading day; standard-quality copper was quoted at a discount of 100 yuan/mt, down 50 yuan/mt from the previous trading day; SX-EW copper was quoted at a discount of 160 yuan/mt, down 50 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 110,300 yuan/mt, down 1,275 yuan/mt from the previous trading day, while the average price of SX-EW copper was 110,265 yuan/mt, down 1,100 yuan/mt from the previous trading day.

Spot market: Guangdong inventory declined for two consecutive days, with persistently low inbound shipments being the main reason for the decline. The price spread between futures contracts remained very wide, and today was the delivery day, so both buyers and sellers in the market showed poor trading enthusiasm, with only sporadic purchases. Today, standard-quality copper against the front-month contract was quoted at a discount of 100 yuan/mt, and against the next-month contract at a premium of 500 yuan/mt. Today, the buying sentiment for copper cathode in Guangdong was 2.38, down 0.03 from the previous trading day, while the selling sentiment was 2.59, down 0.04 from the previous trading day (historical data can be queried in the database).

Overall, on the delivery day, both buyers and sellers in the market showed poor trading enthusiasm, with only sporadic purchases, and spot premiums continued to decline.