Today, spot #1 copper cathode in North China traded at a discount of 480 yuan/mt to 280 yuan/mt against the front-month contract, with an average discount of 380 yuan/mt, a decrease of 30 yuan/mt from the previous trading day. The transaction prices ranged from 78,330 yuan/mt to 78,770 yuan/mt, with an average price of 78,550 yuan/mt, an increase of 735 yuan/mt from the previous trading day.

[SMM Morning Meeting Summary: US CPI Data Unexpectedly Falls Below Expectations, Bullish for Copper Prices] On May 13, spot prices of SMM #1 copper cathode against the 2505 contract for the current month were reported at a discount of 40 yuan/mt to a premium of 20 yuan/mt, with an average price at a discount of 10 yuan/mt, up 5 yuan/mt from the previous trading day. As the delivery deadline approaches, warrant inventories saw minimal increase the day before, but with traders' purchase sentiment rising, warrant volumes are expected to...

[US CPI Unexpectedly Cools, US Dollar Index Weakens as LME Copper and SHFE Copper Surge Over 1% in Night Session] On the macro side, the US unadjusted CPI year-on-year rate for April unexpectedly fell to 2.3%, the lowest since February 2021. After the CPI report, Trump once again pressured Powell, calling for an interest rate cut and stating that the stock market would surge. US inflation data unexpectedly fell below expectations, weakening the US dollar index and boosting copper prices.