Market Activity Recovered Slightly, Spot Premiums/Discounts Remain at Low Levels [SMM North China Spot Copper]

Published: Feb 19, 2025 11:17

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SMM, February 19:

Today, spot copper in North China was quoted at a discount of 400-320 yuan/mt against the front-month contract, with an average discount of 360 yuan/mt, up 10 yuan/mt from the previous trading day. Transaction prices were 76,620-76,920 yuan/mt, with an average price of 76,770 yuan/mt, up 405 yuan/mt from the previous trading day. The center of copper prices pulled back to around 77,000 yuan/mt, leading to a certain recovery in overall consumption. Meanwhile, suppliers continued to reduce inventory for sales, resulting in increased market activity compared to the period before the contract rollover. However, spot premiums/discounts remained at low levels.

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