SMM Morning Meeting Summary: Market Gradually Trading US Tariff Expectations, Copper Prices Maintain Fluctuating Trend
On March 24, the spot #1 copper cathode against the current month 2504 contract was quoted at a discount of 20 yuan/mt to a premium of 20 yuan/mt, with the average price on par with the contract, up 15 yuan/mt MoM. According to SMM, social inventory nationwide continued to decline over the weekend. With the current inventory levels, the market still harbors supply concerns for Q2, and downstream buying interest is gradually picking up...
