SMM, January 23:
Today, spot copper cathode in North China was quoted at a discount of 350-270 yuan/mt against the front-month contract, with an average discount of 310 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 74,510 to 74,830 yuan/mt, with an average price of 74,670 yuan/mt, down 515 yuan/mt from the previous trading day. As the Chinese New Year approaches, most logistics and downstream enterprises have gone on holiday, and suppliers mainly sold off inventory to traders, putting pressure on spot premiums/discounts.
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