Today, spot #1 copper cathode in North China traded at a discount of 160 yuan/mt to 120 yuan/mt against the front-month contract, with an average discount of 140 yuan/mt, a decrease of 10 yuan/mt from the previous trading day. The transaction prices ranged from 79,090 yuan/mt to 79,280 yuan/mt, with an average price of 79,185 yuan/mt, a decrease of 335 yuan/mt from the previous trading day.

[SMM spot copper] Looking ahead to next week, as the month-end approaches, the demand for capital repatriation will put pressure on spot premiums. Additionally, with copper prices remaining steadily above 79,000 yuan/mt, downstream purchase willingness is low. It is expected that there will still be downside room for spot premiums next week. However, the ongoing destocking has led to a decline in inventory, and the decline in premiums is expected to be limited.

Futures market: LME copper opened at $9,940/mt (the session high) overnight, then fluctuated downward with the price center gradually declining to touch a low of $9,848/mt before closing at $9,854.5/mt after considerable fluctuations, down 0.8%.

According to SMM data, the operating rate of enamelled wire industry machinery this week declined by 2.73 percentage points MoM to ...