The sharp pullback in copper futures boosts end-user procurement, buying and selling sentiment heats up, and the spot discount narrows [SMM North China Spot Copper].
Today, in North China, spot #1 copper cathode prices against the front-month contract were quoted at an average discount of 260-160 yuan/mt, with the average discount at 210 yuan/mt, down 10 yuan/mt from the previous trading day. The average transaction price was 102,990 yuan/mt, down 990 yuan/mt from the previous trading day.