On the delivery day, copper prices pulled back, and market activity slightly rebounded [SMM North China spot copper]

SMM December 15 News:

Today, spot #1 copper cathode in North China was quoted at a discount of 240-200 yuan/mt against the front-month contract, with an average discount of 220 yuan/mt, up 60 yuan/mt from the previous trading day. Transaction prices ranged from 91,850 to 92,130 yuan/mt, with an average of 91,990 yuan/mt, down 1,345 yuan/mt from the previous trading day. According to SMM methodology, spot copper cathode in North China was quoted against the front-month contract today. On the contract rollover and delivery day, spot premiums/discounts rose due to the price spread between futures contracts. Most suppliers quoted against the next-month contract at around a discount of 300 yuan/mt. Copper prices pulled back today, and market activity rebounded slightly. Procurement sentiment for copper cathode in North China was 1.15 today, up 0.14 from the previous trading day, while sales sentiment was 1, up 0.13 from the previous trading day ().