Today, spot prices of #1 copper cathode in North China were at a discount of 210 yuan/mt to 150 yuan/mt against the front-month contract, with an average discount of 180 yuan/mt, a decrease of 10 yuan/mt from the previous trading day. The transaction prices ranged from 78,930 yuan/mt to 79,090 yuan/mt, with an average price of 79,010 yuan/mt, an increase of 390 yuan/mt from the previous trading day.

[SMM Morning Meeting Summary: Sino-US Trade Talks Proceed as Scheduled, Providing Support for Copper Prices] On June 9, spot prices of SMM #1 copper cathode against the 2506 contract for the current month were quoted at a premium of 20-150 yuan/mt, with an average quoted premium of 85 yuan/mt, up 10 yuan/mt MoM. As delivery approaches today, low-priced supplies are hard to come by...

[US-China trade talks resume, boosting market; copper prices expected to be supported] On the macro side, the first meeting of the US-China economic and trade consultation mechanism was held in London, UK, on the afternoon of June 9 local time. Yuyuantantian learned that the first meeting of the US-China economic and trade consultation mechanism would continue on June 10 local time. During the US-China trade talks, the US dollar index was in the doldrums amid concerns over trade prospects and expectations of the end of the easing cycle in the eurozone, boosting copper prices.