Consumption Remains Weak, Market Performance Sluggish, Spot Premiums/Discounts Hover at Low Levels [SMM North China Spot Copper]

Published: Feb 24, 2025 11:13

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SMM, February 24:

Today, spot copper cathode in North China was quoted at a discount of 350-290 yuan/mt against the front-month contract, with an average discount of 320 yuan/mt, up 10 yuan/mt from the previous trading day. Transaction prices ranged from 76,760-77,040 yuan/mt, with an average price of 76,900 yuan/mt, down 210 yuan/mt from the previous trading day. Copper prices fluctuated at high levels, and sluggish consumption after the Chinese New Year led to high inventories at processing enterprises. Weak demand resulted in sluggish market transactions, and spot premiums and discounts remained at low levels.

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