Downstream restocking as needed, spot premiums/discounts edged higher [SMM North China Spot Copper]

SMM November 7 News:

Today, spot prices of #1 copper cathode in North China against the front-month contract were at a discount of 160-120 yuan/mt, with an average discount of 140 yuan/mt, up 10 yuan/mt from the previous trading day. Transaction prices ranged from 85,030-85,920 yuan/mt, with an average of 85,475 yuan/mt, down 340 yuan/mt from the previous trading day. Copper prices dropped slightly today, and coupled with downstream restocking based on demand at the end of the week, spot premiums/discounts moved higher. Procurement sentiment for copper cathode in North China today was 2.35, up 0.34 from the previous trading day, while sales sentiment was 1.85, up 0.03 from the previous trading day ().