SMM March 3 News:
Today, spot copper in North China was quoted at a discount of 300-240 yuan/mt against the front-month contract, with an average discount of 270 yuan/mt, up 10 yuan/mt from the previous trading day. Transaction prices ranged from 76,780-76,880 yuan/mt, with an average price of 76,830 yuan/mt, up 180 yuan/mt from the previous trading day. On the first trading day of March, downstream financial pressure eased, leading to just-in-time procurement. Some suppliers, facing reduced inventory pressure, slightly stood firm on quotes. However, due to the rise in copper prices, consumption remained sluggish, and market trading activity was moderate.
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