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Today, spot #1 copper cathode in North China traded at a discount of 80 yuan/mt to parity against the front-month contract, with an average discount of 40 yuan/mt, a decrease of 40 yuan/mt from the previous trading day. The transaction prices ranged from 78,520 to 78,700 yuan/mt, with an average price of 78,610 yuan/mt, up 135 yuan/mt from the previous trading day. Although end-use consumption showed mediocre performance, the operating rate of processing enterprises remained relatively high, primarily executing long-term contracts. Suppliers faced relatively small inventory pressure, and the activity level in the spot market was not high.
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