Spot premiums/discounts continue to decline, with sluggish market transactions [SMM spot copper in North China]

SMM News on May 28:

Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 180 yuan/mt to a discount of 80 yuan/mt, with an average discount of 130 yuan/mt, a decrease of 20 yuan/mt from the previous trading day. The transaction prices ranged from 78,150 yuan/mt to 78,310 yuan/mt, with an average price of 78,230 yuan/mt, a decrease of 25 yuan/mt from the previous trading day. As the month-end period and the Dragon Boat Festival holiday approach, suppliers are concerned about inventory increases and are actively selling off their stock. Meanwhile, downstream demand remains relatively lackluster. Spot premiums/discounts continue to weaken, and trading activity is sluggish.

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