Spot Premiums Rise After Lantern Festival Due to Increased Demand; Spot Trades Improve [SMM South China Spot Copper]

SMM February 13 News: Today, spot #1 copper cathode in Guangdong was quoted at a discount of 20 yuan/mt to a premium of 30 yuan/mt against the front-month contract, with the average premium at 5 yuan/mt, up by 35 yuan/mt from the previous trading day. Hydro copper was quoted at a discount of 120 yuan/mt to 80 yuan/mt, with the average discount at 100 yuan/mt, up by 40 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 77,200 yuan/mt, up by 615 yuan/mt from the previous trading day, while the average price of hydro copper was 77,095 yuan/mt, up by 620 yuan/mt from the previous trading day. Spot market: Today, Guangdong inventory continued to rise, hitting a new high for the year, mainly due to increased arrivals. Post-Lantern Festival, downstream production resumed, boosting demand, and suppliers actively stood firm on quotes and sold actively. Additionally, with the delivery approaching (yesterday, SHFE added 10,000 mt of delivery warehouse capacity), the liquidity of deliverable cargo increased. As a result, spot premiums kept rising. As of 11:00 am, high-quality copper was quoted at a premium of 30 yuan/mt, standard-quality copper at a discount of 20 yuan/mt, and hydro copper at a discount of 100 yuan/mt against the front-month contract. Notably, non-registered copper flowed into the market, leading to a widened price spread between hydro copper and standard-quality copper. Overall, post-Lantern Festival, increased demand drove up spot premiums, and spot trades improved. 》Subscribe to view SMM historical spot metal prices