Transportation controls led to tight supply, spot premiums/discounts increased [SMM North China Spot Copper]

SMM August 18 News:

Today, in North China, #1 copper cathode spot prices against the front-month contract ranged from a discount of 80 yuan/mt to a discount of 40 yuan/mt, with an average discount of 60 yuan/mt, up 20 yuan/mt from the previous trading day. The transaction price was 78,910-79,080 yuan/mt, with an average of 78,995 yuan/mt, up 70 yuan/mt from the previous trading day. As the SCO summit approaches at the end of August, logistics and transportation controls around the North China region have tightened, leading to a tighter market supply and an increase in spot premiums and discounts. Today, the sentiment for purchasing copper cathode in North China was 2.08, down 0.05 from the previous trading day, while the sentiment for selling was 1.85, down 0.07 (historical data can be accessed by logging into the database