[SMM spot copper] Looking ahead to next week, the overall supply of goods will be supplemented by imports, and the arrival of imports will continue to suppress premiums. However, as the delivery date approaches, domestic deliverable goods under a contango structure do not need to be sold at low prices, and it is expected that a price spread will form with imported goods.

Today, spot #1 copper cathode in North China traded at a discount of 140 yuan/mt to 100 yuan/mt against the front-month contract, with an average discount of 120 yuan/mt, unchanged from the previous trading day. The transaction prices ranged from 78,240 yuan/mt to 78,340 yuan/mt, with an average price of 78,290 yuan/mt, up 20 yuan/mt from the previous trading day.

[SMM Morning Meeting Summary: Macro Policy Uncertainty Limits Upside Room for Copper Prices] On August 7, spot premiums for SMM #1 copper cathode against the August 2508 contract were reported at a premium of 70-150 yuan/mt, with an average premium of 110 yuan/mt, up 10 yuan/mt MoM. Inventory declined slightly during the week, primarily due to the digestion of imported supplies at low prices and limited domestic replenishment. Spot premiums are expected to remain firm today...

[SMM Analysis: SMM Copper Concentrate Procurement and Sales Sentiment Index Now Live] The trading situation in the spot market for copper concentrates exhibits significant volatility, with trading volumes and market sentiment fluctuating. This instability poses considerable challenges for the operational decision-making of enterprises within the industry chain. To better serve participants in the spot market for copper concentrates, the SMM Copper Research Team, leveraging its professional market research experience, has developed the Copper Concentrate Spot Procurement and Sales Sentiment Index. This index is based on the original SMM Copper Concentrate Index methodology and has been refined through long-term data accumulation and repeated validation. By constructing a multi-dimensional quantitative model that comprehensively considers various market factors such as spot trading volumes, quotation activity, and the willingness of buyers and sellers, the index objectively reflects the true trading psychology of market participants. The SMM team updates this index at 12:00 PM on the last working day of each week, providing timely and accurate market sentiment references for enterprises within the industry chain, including smelters, traders, and mines. This innovative indicator not only possesses quantifiable and traceable characteristics but also serves as an early warning system for abnormal market fluctuations, assisting enterprises in making more scientific decisions in procurement, sales, and other aspects, thereby effectively mitigating market risks and seizing trading opportunities.