Market purchasing sentiment cools, and suppliers’ holding back from selling underpins a firmer contango [SMM North China Spot Copper]
In North China, spot #1 copper cathode was quoted at an average discount of 170 yuan/mt to 110 yuan/mt against the front-month contract, with an average discount of 140 yuan/mt, up 30 yuan/mt from the previous trading day. The average transaction price was 101,435 yuan/mt, up 495 yuan/mt from the previous trading day.