With low inventory pressure, suppliers have low willingness to sell. Spot premiums/discounts rise slightly [SMM spot copper in North China]

SMM News on July 29:

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 110 yuan/mt, with an average discount of 130 yuan/mt, representing a rise of 10 yuan/mt compared to the previous trading day. The transaction price ranged from 78,720 yuan/mt to 78,850 yuan/mt, with an average price of 78,785 yuan/mt, a decrease of 55 yuan/mt compared to the previous trading day. Following the continuous pullback in copper prices, downstream consumption has slightly recovered, with enterprises picking up goods normally. Additionally, with relatively small inventory pressure for suppliers currently, their willingness to sell is not high. Spot premiums and discounts have risen slightly, while market activity for spot transactions remains moderate.