Copper Prices Continue to Pull Back, Market Activity Rebounds, Spot Premiums/Discounts Rise [SMM North China Spot Copper]

SMM November 5 News:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 180-140 yuan/mt, with an average discount of 160 yuan/mt, up 20 yuan/mt from the previous trading day. Transaction prices ranged from 85,050-85,250 yuan/mt, with an average of 85,150 yuan/mt, down 1,260 yuan/mt from the previous trading day. Copper prices continued to weaken today, while downstream demand, which had been sluggish, showed continued recovery, and spot premiums/discounts rose. However, many enterprises still maintained a wait-and-see sentiment. In North China today, the procurement sentiment for copper cathode was 2.31, up 0.21 from the previous trading day, while the sales sentiment was 2.14, up 0.11 from the previous trading day ().