Demand appeared weak, spot premiums/discounts softened [SMM North China Spot Copper]

SMM August 27 News:

In North China, the #1 copper cathode spot prices against the front-month contract ranged from a discount of 100 yuan/mt to 80 yuan/mt, with an average discount of 90 yuan/mt, down 20 yuan/mt from the previous trading day. The transaction price was between 79,240 and 79,330 yuan/mt, with an average of 79,285 yuan/mt, down 100 yuan/mt from the previous trading day. After the center of copper prices moved up during the week, demand showed weakness. With the Tianjin Summit about to be held, suppliers are concerned that downstream enterprises may reduce or halt production, leading to a decrease in inventory and weakening spot premiums and discounts. Today, the purchasing sentiment for copper cathode in North China was 1.75, up 0.07 from the previous trading day, while the selling sentiment was 1.85, up 0.27 from the previous trading day ().