Market demand remained sluggish, and spot premiums/discounts weakened [SMM North China Spot Copper]

SMM Jan. 7:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 440-280 yuan/mt, with the average discount at 360 yuan/mt, down 60 yuan/mt from the previous trading day. Transaction prices were 102,540-103,660 yuan/mt, with the average price at 103,100 yuan/mt, down 285 yuan/mt from the previous trading day. Copper prices fluctuated at highs, market demand remained sluggish, suppliers' quotes for spot premiums/discounts showed some divergence, and actual market transactions were sluggish. In North China today, the procurement sentiment for copper cathode was 1.03, down 0.01 from the previous trading day, while the sales sentiment was 1.22, up 0.11 from the previous trading day ().