Market transactions primarily consist of long-term contract deliveries, with spot cargo trading activity remaining low. [SMM North China Spot Copper]

SMM November 18 News:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 130-90 yuan/mt, with an average discount of 110 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 85,700 to 85,950 yuan/mt, with an average of 85,825 yuan/mt, down 490 yuan/mt from the previous trading day. After delivery, the market mainly focused on executing long-term contracts, while some suppliers held prices firm due to low inventory. Trading activity in the spot market was subdued. In North China today, the procurement sentiment for copper cathode was 1.98, down 0.09 from the previous trading day, while the sales sentiment was 1.75, down 0.09 from the previous trading day ().