Spot premiums and discounts rose on the delivery date, and market transactions improved slightly. [SMM North China Spot Copper]

SMM November 17 News:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 100-80 yuan/mt, with an average discount of 90 yuan/mt, up 40 yuan/mt from the previous trading day. Transaction prices ranged from 86,180 to 86,450 yuan/mt, with an average of 86,315 yuan/mt, down 595 yuan/mt from the previous trading day. On the contract rollover and delivery day, spot premiums/discounts rose due to the futures price spread structure. Copper prices pulled back, stimulating downstream restocking sentiment, but overall market demand remained limited. In North China today, purchasing sentiment for copper cathode was 2.07, up 0.12 from the previous trading day, while selling sentiment was 1.86, up 0.15 from the previous trading day ().