Weak consumption and poor downstream stocking conditions have led to a continued sluggish market pattern. [SMM North China Spot Copper]

SMM September 24:

Today, in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 100-80 yuan/mt, with an average discount of 90 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 79,840 to 79,960 yuan/mt, with an average of 79,900 yuan/mt, up 35 yuan/mt from the previous trading day. High copper prices and weak consumption have led processing enterprises to consider taking holidays, resulting in poor pre-holiday stockpiling and continued sluggish market conditions. Today, the procurement sentiment for copper cathode in North China was 1.74, up 0.02 from the previous trading day, while the sales sentiment was 1.44, down 0.01 from the previous trading day ().