Weak Consumption and Poor Market Demand Drove Down Spot Premiums/Discounts [SMM North China Spot Copper]

SMM September 9 news:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 170-110 yuan/mt, with an average discount of 140 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 79,530 to 79,790 yuan/mt, averaging 79,660 yuan/mt, up 40 yuan/mt from the previous session. Copper prices continued to fluctuate at highs, while weak consumption and sluggish downstream demand led to rising supplier inventories, causing spot premiums/discounts to weaken further. Today, the procurement sentiment for copper cathode in North China was 1.52, down 0.09 from the previous trading day, while the sales sentiment was 2.35, up 0.13 from the previous session ().