The market remains sluggish, and the outlook for weak consumption is equally unfavorable [spot copper in North China, SMM]

SMM News on July 4:

Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 180 yuan/mt to a discount of 120 yuan/mt, with an average discount of 150 yuan/mt, a decrease of 10 yuan/mt from the previous trading day. The transaction price ranged from 80,180 yuan/mt to 80,360 yuan/mt, with an average price of 80,270 yuan/mt, a decrease of 455 yuan/mt from the previous trading day. Due to the impact of high copper prices this week, consumer demand has been poor, and market trading activity has been sluggish. As the delivery date approaches next week, there is expected to be further downward pressure on spot premiums/discounts.

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