Market Activity Rebounded on the Delivery Date, with the Next-Month Contract Showing a Significant Discount [SMM North China Spot Copper]

SMM February 17 News: Today, spot copper in North China was quoted at a discount of 260-140 yuan/mt against the front-month contract, with an average discount of 200 yuan/mt, up 60 yuan/mt from the previous trading day. Transaction prices ranged from 76,790-77,100 yuan/mt, with an average price of 76,945 yuan/mt, down 430 yuan/mt from the previous trading day. According to SMM methodology, spot copper in North China was quoted based on the front-month contract today. On the contract rollover delivery day, market participants had already started quoting against the next-month contract. Due to the pullback in copper prices, downstream purchasing sentiment recovered to some extent. However, some suppliers with high inventory levels continued to sell at significant discounts, leading to increased market activity compared to last week. » Subscribe to view historical SMM metal spot prices.