Spot cargo supply was tight and market activity was low [SMM North China spot copper]

SMM August 22 News:

In North China, the spot #1 copper cathode against the front-month contract was at a discount of 70-50 yuan/mt today, with an average discount of 60 yuan/mt, down 10 yuan/mt from the previous trading day. The transaction price ranged from 78,580 to 78,660 yuan/mt, with an average of 78,620 yuan/mt, up 30 yuan/mt from the previous trading day. Due to the control measures on freight trucks entering and exiting factories based on emission standards from August 20 to September 3, market logistics have become tight. Meanwhile, upstream smelters are about to enter a concentrated maintenance period, and downstream buyers are mainly picking up goods under long-term contracts, leading to a tighter supply of spot copper cathode in North China and low market activity. The purchasing sentiment for copper cathode in North China today was 1.93, down 0.04 from the previous trading day, and the selling sentiment was 1.55, down 0.03 (historical data can be queried by logging into the database).