The market maintained a weak supply and demand amid quiet spot trades [SMM north China spot copper]

Today, spot copper in north China was quoted at a discount of 80-220 yuan/mt against 2407 contract, with an average discount of 150 yuan/mt, unchanged from the previous trading day. The transaction price was 78,210-78,640 yuan/mt, with an average price of 78,425 yuan/mt, up 50 yuan/mt from the previous trading day. On one hand, some smelters were under maintenance; on the other hand, sellers had relatively low inventory pressure at the beginning of July, resulting in limited market supply. Meanwhile, downstream consumption was also relatively average. The spot market maintained a weak supply and demand situation, with a quiet trading atmosphere.