SMM News, March 19:
Today, spot #1 copper cathode in North China was quoted at discounts of 40 yuan/mt to premiums of 40 yuan/mt against the front-month contract, with the average price at parity, up 60 yuan/mt from the previous trading day. The average transaction price was 95,645 yuan/mt, down 3,375 yuan/mt from the previous trading day. Copper prices plunged, stimulating downstream demand. Supply in the North China market was relatively tight, giving suppliers sentiment to hold prices firm, and spot premiums rose sharply. Today, the procurement sentiment for copper cathode in North China was 3.37, up 0.52 from the previous trading day, and shipment sentiment was 2.88, up 0.36 from the previous trading day ().
