Supplier reduces prices to sell goods, spot premiums/discounts fall [SMM spot copper in North China]

SMM News on June 23:

Today, in North China, spot prices of #1 copper cathode against the front-month contract ranged from a discount of 200 yuan/mt to a discount of 100 yuan/mt, with an average discount of 150 yuan/mt, a decrease of 40 yuan/mt compared to the previous trading day. The transaction prices ranged from 78,000 to 78,170 yuan/mt, with an average price of 78,085 yuan/mt, a decrease of 85 yuan/mt compared to the previous trading day. As the mid-year month-end period approaches, consumption shows mediocre performance, and downstream procurement enthusiasm is low. Producers are forced to lower prices and sell goods due to inventory pressure, leading to a decline in spot premiums/discounts.

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