Some suppliers were eager to cash out and actively lowered prices, leading to a decline in spot premiums. [SMM South China Spot Copper]

SMM April 25:

Today, spot prices of #1 copper cathode in Guangdong against the front-month contract were reported at a premium of 180-230 yuan/mt, with an average premium of 205 yuan/mt, down 20 yuan/mt from the previous trading day. SX-EW copper was reported at a premium of 120-140 yuan/mt, with an average premium of 130 yuan/mt, down 20 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 78,135 yuan/mt, down 35 yuan/mt from the previous trading day, while the average price of SX-EW copper was 78,060 yuan/mt, down 35 yuan/mt from the previous trading day.

Spot market: Inventory in Guangdong has declined for 17 consecutive days, mainly due to increased cargo pick-up by downstream users. Although inventory continued to decrease and copper prices remained relatively stable, some suppliers actively lowered premiums to expedite sales, putting downward pressure on today's premiums. As of 11:00, high-quality copper against the front-month contract was reported at a premium of 230 yuan/mt, standard-quality copper at 180 yuan/mt, and SX-EW copper at a premium of 130 yuan/mt. Attention will be focused on whether the destocking trend can continue next week, as this could help stabilize premiums.

Overall, some suppliers were eager to cash out and actively lowered prices, leading to a decline in spot premiums.

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