SMM May 20 report:
Today, in North China, spot #1 copper cathode was trading at parity to a premium of 100 yuan/mt against the front-month contract, with an average premium of 50 yuan/mt, up 20 yuan/mt from the previous trading day. The transaction prices ranged from 77,870 to 78,130 yuan/mt, with an average price of 78,000 yuan/mt, up 300 yuan/mt from the previous trading day. Copper prices rebounded slightly today, and downstream demand weakened slightly. However, some suppliers' spot inventory has been depleted, pushing the center of spot premiums and discounts higher. Market trading activity was lower than yesterday.



