Spot Copper Prices Trend Higher, Weighing on Downstream Purchasing Sentiment, Market Remains Sluggish [SMM North China Spot Copper]

SMM Oct 24:

In North China today, spot #1 copper cathode against the front-month contract was at a discount of 200-160 yuan/mt, with an average discount of 180 yuan/mt, unchanged from the previous trading day. Transaction prices were 86,090-86,370 yuan/mt, with an average of 86,230 yuan/mt, up 930 yuan/mt from the previous trading day. Rising copper price center suppressed downstream purchasing sentiment. Approaching the weekend, downstream buyers only made routine restocking today, and the market remained sluggish. In North China today, purchasing sentiment for copper cathode was 1.29, up 0.11 from the previous trading day, while selling sentiment was 1.35, up 0.02 from the previous trading day ().