Suppliers actively refuse to budge on prices, and spot premiums/discounts have risen [SMM spot copper in North China]

SMM News on July 17:

Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 150 yuan/mt to a discount of 90 yuan/mt, with an average discount of 120 yuan/mt, up 20 yuan/mt from the previous trading day. The transaction prices ranged from 77,740 yuan/mt to 77,850 yuan/mt, with an average price of 77,795 yuan/mt, down 30 yuan/mt from the previous trading day. As the center of copper prices moved lower, consumption improved somewhat. During the week, large processing enterprises resumed their operating rates and replenished their stocks. With suppliers' inventory levels not high, they actively refused to budge on prices, leading to an increase in spot premiums/discounts.

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