Futures Edge Lower, End-Users on the Sidelines; At Month Start, Holding Prices Firm Keeps Spot Discounts Stable [SMM North China Spot Copper]
Today in North China, spot #1 copper cathode against the front-month contract was reported at an average discount of 170 yuan/mt to 110 yuan/mt, with an average discount of 140 yuan/mt, unchanged from the previous trading day. The average transaction price was 102,060 yuan/mt, down 250 yuan/mt from the previous trading day.