SMM, February 18:
Today, spot copper in North China was quoted at a discount of 420-320 yuan/mt against the front-month contract, with an average discount of 370 yuan/mt, down 170 yuan/mt from the previous trading day. Transaction prices were 76,230-76,500 yuan/mt, with an average price of 76,365 yuan/mt, down 580 yuan/mt from the previous trading day. After the contract rollover, spot premiums/discounts declined due to the impact of the price spread between futures contracts, and some suppliers sold at low prices to liquidate inventory. Although copper prices pulled back, downstream sentiment remained cautious, and no significant recovery in consumption was observed.
