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Home / Metal News / Downstream Purchases Were Not Active, Spot Premiums Rose First and Then Fell [SMM South China Spot Copper]

Downstream Purchases Were Not Active, Spot Premiums Rose First and Then Fell [SMM South China Spot Copper]

iconFeb 25, 2025 12:00
Source:SMM
SMM February 25 News: Today, spot #1 copper cathode in Guangdong was quoted at a discount of 80-0 yuan/mt against the front-month contract, with an average discount of 40 yuan/mt, unchanged from the previous trading day. Hydro copper was quoted at a discount of 190-150 yuan/mt, with an average discount of 170 yuan/mt, up 30 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 76,945 yuan/mt, down 145 yuan/mt from the previous trading day, while the average price of hydro copper was 76,815 yuan/mt, down 115 yuan/mt from the previous trading day. Spot market: Guangdong inventory saw a slight decline, mainly due to reduced arrivals. Both copper prices and inventory decreased today, and suppliers showed a strong sentiment to stand firm on quotes. In the early session, standard-quality copper was once quoted at a discount of 50 yuan/mt, but downstream purchasing was moderate. Additionally, the larger discount in Shanghai, which continued to decline, weighed on Guangdong prices. Suppliers had to lower premiums to facilitate sales, with final transaction prices only matching those of the previous day. As of 11:00 am, high-quality copper was quoted at 0 yuan/mt, standard-quality copper at a discount of 80 yuan/mt, and hydro copper at a discount of 170 yuan/mt against the front-month contract. Recently, the supply of hydro copper has decreased, narrowing the price spread between hydro copper and standard-quality copper. Overall, both copper prices and inventory declined, but downstream purchasing remained sluggish, and spot premiums rose initially before falling. 》Subscribe to view SMM historical spot metal prices          

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