Copper Prices Rose Again With Demand Significantly Suppressed, The Intraday Market Remained Quiet [SMM North China Spot Copper]

SMM September 3 news:

Spot prices of #1 copper cathode against the front-month contract in North China today were at a discount of 90-50 yuan/mt, averaging a discount of 70 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 80,150-80,370 yuan/mt, with an average of 80,260 yuan/mt, up 370 yuan/mt from the previous session. The market was relatively quiet due to the military parade today. Additionally, as copper prices rose again to surpass the 80,000 yuan/mt threshold, downstream consumption was significantly suppressed, leading to a pullback in spot premiums/discounts. The procurement sentiment for copper cathode in North China today was 1.51, down 0.24 from the previous trading day, while the sales sentiment was 1.81, up 0.06 ().