Supply and Demand Rebound, Market Trading Activity Heats Up [SMM North China Spot Copper]

SMM November 20 News:

Today in North China, spot #1 copper cathode against the front-month contract was at a discount of 200-120 yuan/mt, with an average discount of 160 yuan/mt, down 40 yuan/mt from the previous trading day. Transaction prices ranged from 85,970-86,420 yuan/mt, with an average price of 86,195 yuan/mt, up 285 yuan/mt from the previous trading day. After copper prices' center shifted lower during the week, consumption improved, and as finished product inventories of copper semis declined, enterprises' restocking demand increased. Meanwhile, on the supply side, smelter maintenance ended, and activity in the spot market picked up. Today in North China, purchasing sentiment for copper cathode was 2.15, up 0.07 from the previous trading day, while selling sentiment was 2.45, up 0.33 from the previous trading day ().