Copper prices pull back, demand slightly recovers, spot premiums/discounts rebound [SMM North China spot copper]

SMM October 13 News:

Today in North China, spot #1 copper cathode prices against the front-month contract were at a discount of 180-140 yuan/mt, with an average discount of 160 yuan/mt, up 50 yuan/mt from the previous trading day. Transaction prices ranged from 84,620-84,980 yuan/mt, with an average of 84,800 yuan/mt, down 1,650 yuan/mt from the previous trading day. The pullback in copper prices provided some support to downstream demand, but due to recent high price volatility, downstream players maintained a strong wait-and-see sentiment, limiting the recovery in market activity. Today in North China, the procurement sentiment for copper cathode was 1.37, up 0.34 from the previous trading day, while the sales sentiment was 1.23, up 0.12 from the previous trading day ().