North China Market Sees Weak Supply and Demand, Spot Premiums/Discounts Rise Amid Mediocre Trading [SMM North China Spot Copper]

SMM August 19 News:

In North China, #1 copper cathode spot prices against the front-month contract ranged from a discount of 60 yuan/mt to 20 yuan/mt, averaging a discount of 40 yuan/mt, up 20 yuan/mt from the previous trading day. The transaction price was 78,810-78,920 yuan/mt, with an average of 78,865 yuan/mt, down 130 yuan/mt from the previous trading day. As the SCO summit approaches at the end of August and due to upstream smelters entering maintenance in September, logistics and supply in North China are tight, pushing up spot premiums and discounts. However, consumption remains mediocre during the off-season. Today, the purchasing sentiment for copper cathode in North China was 2.05, down 0.03 from the previous trading day, and the selling sentiment was 1.68, down 0.17 from the previous trading day ().