[SMM spot copper] The futures market declined compared to yesterday, and the price spread between futures contracts did not widen significantly. Yesterday, SHFE copper futures warrants increased by over 20,000 mt to more than 50,000 mt. It is expected that spot premiums will decline tomorrow compared to today's level.

Today, spot #1 copper cathode in North China was trading at a discount of 480 yuan/mt to 340 yuan/mt against the front-month contract, with an average discount of 410 yuan/mt, a decrease of 30 yuan/mt from the previous trading day. The transaction prices ranged from 78,150 yuan/mt to 78,460 yuan/mt, with an average price of 78,305 yuan/mt, down 245 yuan/mt from the previous trading day.

[China Remains Peru's Largest Copper Exporter] According to a report on the BNAmericas website, driven by the mining sector, Peru's exports rebounded in Q1. Data from the Ministry of Foreign Trade and Tourism of Peru showed that copper, gold, and zinc were the main factors contributing to the growth in mineral exports. In February, affected by shrinking demand, Peru's copper exports decreased by 0.4% YoY. However, in March, Peru's copper export value reached $2.58 billion, up 24.7%; in Q1, the cumulative copper export value was $6.62 billion, up 23%. (Webstock Inc.)