Copper Prices Pull Back, Market Trading Activity Heats Up [SMM North China Spot Copper]

SMM Jan. 9:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 450-310 yuan/mt, with the average discount at 380 yuan/mt, up 20 yuan/mt from the previous trading day. Transaction prices ranged from 99,150-100,730 yuan/mt, with the average price at 99,940 yuan/mt, down 1,810 yuan/mt from the previous trading day. As copper prices continued to pull back, downstream buying interest finally received some boost, coupled with moderate restocking by downstream users on Friday, trading activity warmed up to some extent. In North China today, the purchasing sentiment for copper cathode was 1.59, up 0.42 from the previous trading day, while the selling sentiment was 1.78, up 0.44 from the previous trading day ().