SHFE Copper Breaks Through 90,000 yuan/mt with Few Inquiries, Market Performance Quiet [SMM North China Spot Copper]

SMM December 4 News:

Today in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 280-240 yuan/mt, with an average discount of 260 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 90,620 to 91,010 yuan/mt, with an average price of 90,815 yuan/mt, up 2,225 yuan/mt from the previous trading day. As SHFE copper surged past 90,000 yuan/mt, demand in North China was severely impacted, with downstream buyers showing almost no interest and few inquiries, leaving the market quiet. Today in North China, purchasing sentiment for copper cathode was 1.01, down 0.02 from the previous trading day, while selling sentiment was 2.06, down 0.35 from the previous trading day ().