Spot market: Guangdong inventory has risen for 10 consecutive days, mainly due to weak consumption and increased arrivals. As most downstream buyers have already gone on holiday, suppliers were unwilling to further lower prices, keeping quotes at yesterday's levels, with very few actual transactions. As of 11:00 am, high-quality copper was quoted at parity against the front-month contract, standard-quality copper at a discount of 350 yuan/mt, and hydro copper at a discount of 430 yuan/mt.
Overall, on the penultimate trading day before the holiday, market activity remained sluggish, with only sporadic transactions.
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