Premiums Weakened as Delivery Approached, Market Trading Was Mediocre [SMM North China Spot Copper]

SMM May 15 News:

Today, #1 copper cathode spot prices in North China against the front-month contract were reported at a discount of 320 yuan/mt to a discount of 220 yuan/mt, with an average discount of 270 yuan/mt, down 50 yuan/mt from the previous trading day. The average transaction price was 107,210 yuan/mt, down 105,375 yuan/mt from the previous trading day. With delivery approaching, the market has already begun quoting against the next-month contract today, with the center concentrated around a discount of 200 yuan/mt. Although copper prices pulled back, actual transactions remained relatively sluggish. Today, the copper cathode procurement sentiment in North China was 1.66, up 0.14 from the previous trading day, and the shipments sentiment was 2.49, up 0.13 from the previous trading day ().