Post-holiday, market demand in North China remained sluggish, with spot cargo transactions performing poorly during the week [SMM Weekly Review of Copper Cathode Spot in North China]

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       Spot premiums/discounts fell rapidly during the week. As of Thursday this week, they ranged from discounts of 260 yuan/mt to discounts of 180 yuan/mt, with an average discount of 220 yuan/mt. After the Dragon Boat Festival, SHFE copper stabilized at a high level above the 78,000 yuan/mt threshold. Consumption was suppressed and remained weak. Poor demand made it difficult for copper cathode supplies in the northern market to be absorbed, causing spot premiums/discounts to fall to a low level and spot trading activity to remain sluggish. Looking ahead, under the influence of the off-season for consumption and high copper prices, demand is expected to remain weak. As the delivery date approaches, spot premiums/discounts are expected to continue to face downward pressure.

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