Copper Prices Rose, Downstream Wait-and-See Sentiment Strengthened, Market Performance Was Sluggish [SMM North China Spot Copper]

SMM September 2 news:

Spot prices of #1 copper cathode against the front-month contract in North China today ranged from a discount of 70 yuan/mt to 30 yuan/mt, with the average discount at 50 yuan/mt, unchanged from the previous trading day. Transaction prices were 79,830-79,950 yuan/mt, with the average at 79,890 yuan/mt, up 275 yuan/mt from the previous session. As the center of copper prices continued to rise, downstream wait-and-see sentiment strengthened while buying interest declined. Meanwhile, upstream suppliers faced relatively small inventory pressure, leaving the market in a sluggish state. The procurement sentiment for copper cathode in North China today was 1.75, down 0.16 from the previous trading day, while the sales sentiment stood at 1.75, down 0.06 ().