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SMM May 29 report:
Today, in North China, spot #1 copper cathode traded at a discount of 180 yuan/mt to 80 yuan/mt against the front-month contract, with an average discount of 130 yuan/mt, unchanged from the previous trading day. The transaction prices ranged from 78,110 yuan/mt to 78,300 yuan/mt, with an average price of 78,205 yuan/mt, down 25 yuan/mt from the previous trading day. Weak consumption has led to poor market demand, and downstream enterprises have largely refrained from stockpiling. The spot market was sluggish today.
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