Some suppliers insisted on holding prices firm, but actual market transactions were weak [SMM North China Spot Copper]

SMM November 13:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 160-100 yuan/mt, with an average discount of 130 yuan/mt, up 10 yuan/mt from the previous trading day. Transaction prices were 86,910-87,150 yuan/mt, with an average of 87,030 yuan/mt, up 430 yuan/mt from the previous trading day. Stronger copper prices again dampened downstream demand, but overall supply was constrained by upstream maintenance, and some suppliers held prices firm ahead of the contract rollover, resulting in weak activity in the spot market. In North China today, the procurement sentiment for copper cathode was 1.89, down 0.18 from the previous trading day, while the sales sentiment was 1.62, down 0.15 from the previous trading day ().