Copper Prices Surge Again, Market Struggles to Find Transactions [SMM North China Spot Copper]

SMM December 5 News:

Today in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 300-240 yuan/mt, with an average discount of 270 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 90,700-91,590 yuan/mt, with an average of 91,145 yuan/mt, up 330 yuan/mt from the previous trading day. The continued rise in copper prices resulted in almost no downstream demand today, and even as suppliers lowered their offers, transactions remained hard to come by, leaving the market quiet. Today in North China, purchasing sentiment for copper cathode was 1.01, unchanged from the previous trading day, while selling sentiment was 1.85, down 0.21 from the previous trading day ().