After the contract rollover, spot premiums/discounts rebounded, with copper prices fluctuating and downstream wait-and-see sentiment remaining strong [SMM North China Spot Copper].

SMM September 16 News:

Today, in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 150-110 yuan/mt, with an average discount of 130 yuan/mt, up 40 yuan/mt from the previous trading day. Transaction prices ranged from 80,720 to 81,110 yuan/mt, with an average of 80,915 yuan/mt, up 225 yuan/mt from the previous trading day. According to the SMM methodology, spot copper cathode in North China was quoted against the front-month contract today. Spot premiums/discounts rebounded after delivery. During the day, copper prices jumped initially and then pulled back. Downstream players held strong wait-and-see sentiment, while upstream smelters focused on delivering long-term contracts as maintenance was imminent. Activity in the spot market remained mediocre. Today, purchasing sentiment for copper cathode in North China was 1.37, up 0.02 from the previous trading day, while selling sentiment was 1.87, down 0.18 from the previous trading day ().