Copper Prices Suppress Demand, Spot Premiums/Discounts Weaken [SMM North China Spot Copper]

SMM November 27:

Today in North China, spot #1 copper cathode prices against the front-month contract were at a discount of 230-170 yuan/mt, with an average discount of 200 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 86,670 to 86,890 yuan/mt, with an average of 86,780 yuan/mt, up 385 yuan/mt from the previous trading day. As copper prices continued to rise, downstream demand was further suppressed, coupled with the month-end period factor, suppliers lowered prices to seek transactions, but the market remained sluggish. Today in North China, the procurement sentiment for copper cathode was 1.32, down 0.21 from the previous trading day, while the sales sentiment was 2.37, up 0.02 from the previous trading day ().