The market showed a pattern of weak supply and demand with sluggish spot copper transactions [SMM North China Spot Copper]

SMM, August 26:

Today, in North China, spot #1 copper cathode traded at a discount of 90 yuan/mt to 50 yuan/mt against the front-month contract, averaging a discount of 70 yuan/mt, up by 10 yuan/mt from the previous trading day. The transaction prices ranged from 79,310 yuan/mt to 79,460 yuan/mt, with an average price of 79,385 yuan/mt, up by 210 yuan/mt from the previous trading day. After copper prices rose, demand weakened, while upstream smelters are about to enter a period of concentrated maintenance, resulting in a situation of weak supply and demand in the North China market and sluggish spot transaction activity. Today, the purchasing sentiment for copper cathode in North China stood at 1.68, down by 0.17 from the previous trading day, while the selling sentiment was 1.58, down by 0.07 from the previous trading day ().