During the session, copper prices surged significantly, dampening downstream buying interest, resulting in sluggish market transactions [SMM North China Spot Copper].

SMM Jan. 29:

Today, in North China, spot #1 copper cathode against the front-month contract was at a discount of 500-400 yuan/mt, with an average discount of 450 yuan/mt, unchanged from the previous trading day. Transaction prices were 102,190-105,620 yuan/mt, with an average price of 103,905 yuan/mt, up 2,455 yuan/mt from the previous trading day. Copper prices surged during the daytime session, severely dampening downstream buying interest. Coupled with the month-end period, market transactions performed poorly. Today, the procurement sentiment for copper cathode in North China was 1.31, down 0.22 from the previous trading day, while the sales sentiment was 1.48, down 0.14 from the previous trading day ().