Downstream Procurement Demand Remains Weak, Market Continues Sluggish [SMM North China Spot Copper]

SMM December 9 News:

In North China today, 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, unchanged from the previous trading day. Transaction prices ranged from 91,470-92,230 yuan/mt, with an average of 91,850 yuan/mt, down 50 yuan/mt from the previous trading day. Due to consumption being suppressed by copper prices, finished product inventories at processing enterprises tended to rise, and demand for copper cathode procurement remained weak. Market transactions continued to be sluggish today. In North China today, the procurement sentiment for copper cathode was 1.01, unchanged from the previous trading day, while the sales sentiment was 1.75, down 0.02 from the previous trading day ().