With contract rollover imminent, end-users hold off purchases; suppliers hold prices firm and spot trades remain sluggish [SMM North China Copper Spot]
Spot #1 copper cathode in North China was quoted against the front-month contract today at discounts of 50 yuan/mt to premiums of 30 yuan/mt, averaging a discount of 10 yuan/mt, up 10 yuan/mt from the previous trading day. The average transaction price was 103,240 yuan/mt, down 755 yuan/mt from the previous trading day.