Copper Prices Rise Amid Persistently Weak Demand, Market Premiums and Discounts Continue to Decline [SMM North China Spot Copper]

SMM December 22:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 500-400 yuan/mt, with an average discount of 450 yuan/mt, down 40 yuan/mt from the previous trading day. Transaction prices were 93,080-93,760 yuan/mt, with an average of 93,420 yuan/mt, up 1,320 yuan/mt from the previous trading day. Rising copper prices continued to weigh on downstream demand, and as the year-end period approached, suppliers faced increasing pressure to sell, leading to another decline in spot premiums/discounts, while actual trading activity remained sluggish. In North China today, the procurement sentiment for copper cathode was 1.28, down 0.15 from the previous trading day, while the selling sentiment was 2.85, up 0.18 from the previous trading day ().