Spot premiums/discounts stopped falling, while market transactions were sluggish [SMM spot copper in North China]

SMM News on June 25:

Today, in North China, spot prices against the front-month contract for #1 copper cathode ranged from a discount of 200 yuan/mt to a discount of 120 yuan/mt, with an average discount of 160 yuan/mt, up 10 yuan/mt from the previous trading day. The transaction prices ranged from 78,330 yuan/mt to 78,450 yuan/mt, with an average price of 78,390 yuan/mt, up 185 yuan/mt from the previous trading day. The market continued to show weak supply and demand today, with sluggish downstream consumption demand. However, some smelters exported part of their cargoes, and the current inventory pressure was relatively small. As a result, the spot premiums/discounts stopped falling, and market trading activity remained sluggish.

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