Copper prices weakened, demand recovered somewhat, and market activity slightly picked up [SMM North China Spot Copper]

SMM November 4 News:

Today in North China, spot #1 copper cathode against the front-month contract was at a discount of 210-150 yuan/mt, with an average discount of 180 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 86,150-86,670 yuan/mt, with an average price of 86,410 yuan/mt, down 255 yuan/mt from the previous trading day. As copper prices weakened, downstream demand recovered to some extent, and trading activity in the spot market slightly improved. However, some enterprises still maintained a fear of high prices and adopted a wait-and-see attitude. Today in North China, the procurement sentiment for copper cathode was 2.12, up 0.16 from the previous trading day, while the sales sentiment was 2.03, up 0.15 from the previous trading day ().