Copper prices are high, downstream wait-and-see sentiment is strong, and market activity is low [SMM North China spot copper]

SMM October 10 News:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 260-160 yuan/mt, with an average discount of 210 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 86,180 to 86,720 yuan/mt, with an average price of 86,450 yuan/mt, up 935 yuan/mt from the previous trading day. As copper prices continued to surge, downstream buyers held strong wait-and-see sentiment with weak purchasing interest, resulting in low market activity today. In North China today, the purchasing sentiment for copper cathode was 1.03, up 0.01 from the previous trading day, while the selling sentiment was 1.11, down 0.01 from the previous trading day ().