SMM, September 21:
In North China today, spot prices of #1 copper cathode against the front-month contract were reported at premiums of 580-660 yuan/mt, with an average premium of 620 yuan/mt, up 80 yuan/mt from the previous trading day. The average transaction price was 110,605 yuan/mt, up 600 yuan/mt from the previous trading day. Futures drifted higher, spot supply remained tight, and suppliers held prices firm while holding back from selling. Downstream purchase willingness recovered slightly, and rigid demand supported transactions, driving spot premiums in North China higher. Market trading activity pulled back somewhat. Today, the purchase sentiment for copper cathode in North China was 2.03, up 0.02 from the previous trading day, while the shipment sentiment was 2.29, down 0.06 from the previous trading day. ().
