Copper Prices Rose While Demand Was Suppressed, Spot Premiums/Discounts Fell [SMM North China Spot Copper]

SMM, August 25:

Today, in North China, spot #1 copper cathode traded at a discount of 100 yuan/mt to a discount of 60 yuan/mt against the front-month contract, with an average discount of 80 yuan/mt, a decrease of 20 yuan/mt from the previous trading day. The transaction price ranged from 79,090 yuan/mt to 79,260 yuan/mt, with an average price of 79,175 yuan/mt, up by 555 yuan/mt from the previous trading day. Affected by the rise in copper prices, downstream demand was suppressed, and spot premiums/discounts declined. Moreover, currently, Beijing-Tianjin-Hebei, Shandong, Henan, and Inner Mongolia are all affected by logistics control measures. Today, the purchasing sentiment for copper cathode in North China was 1.85, down by 0.08 from the previous trading day, while the selling sentiment was 1.65, up by 0.10 from the previous trading day ().