[SMM spot copper] Trading was volatile during the day. In the last few trading days of the month, traders actively sought low-priced cargoes. It is expected that spot quotes will remain firm on the first trading day of July tomorrow, but attention should be paid to the suppression of spot premiums by the widening price spread between futures contracts.

Today, spot #1 copper cathode in North China traded at a discount of 180 yuan/mt to 120 yuan/mt against the front-month contract, with an average discount of 150 yuan/mt, up 10 yuan/mt from the previous trading day. The transaction price ranged from 79,580 yuan/mt to 79,840 yuan/mt, with an average price of 79,710 yuan/mt, down 145 yuan/mt from the previous trading day.