Intensified Contradiction Between Suppressed Demand and Upstream Shipment Pressure Leads to Continuous Collapse of Spot Premiums and Discounts [SMM Spot Copper in North China]

SMM December 24 news:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 600-500 yuan/mt, with an average discount of 550 yuan/mt, down 80 yuan/mt from the previous trading day. Transaction prices ranged from 94,200 to 94,700 yuan/mt, with an average price of 94,450 yuan/mt, up 1,235 yuan/mt from the previous trading day. The conflict between copper price increases suppressing demand and suppliers' year-end pressure to clear inventory intensified further, causing spot premiums/discounts to collapse continuously. In North China today, the procurement sentiment for copper cathode was 1.02, down 0.02 from the previous trading day, while the sales sentiment was 2.92, up 0.04 from the previous trading day ().