Downstream just-in-time procurement continued to show a stable performance in the North China market [SMM spot copper in North China]

SMM reported on August 12:

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 price ranged from 78,790 yuan/mt to 78,870 yuan/mt, with an average price of 78,830 yuan/mt, down 35 yuan/mt from the previous trading day. Today, downstream buyers still focused on just-in-time procurement. The supply and demand in the North China market remained stable, and spot premiums/discounts continued to hold steady.