Market trading remained sluggish, while North China spot premiums held steady [SMM North China Spot Copper]

SMM July 17 news:

Today in North China, spot #1 copper cathode prices against the front-month contract were reported at premiums of 100 yuan/mt to 140 yuan/mt, averaging 120 yuan/mt, unchanged from the previous trading day. The average transaction price was 103,805 yuan/mt, down 545 yuan/mt from the previous trading day. Although futures saw a slight correction, market conditions were largely similar to yesterday. Downstream purchase willingness was mediocre, and market transactions were dismal; suppliers' willingness to sell further weakened, and circulating spot resources were limited, but end-use demand remained persistently weak. Bullish and bearish factors balanced each other, driving North China spot premiums to stabilize. Today, the purchase sentiment for copper cathode in North China was 1.73, down 0.01 from the previous trading day, and the selling sentiment was 2.54, also down 0.01 ().