SMM, October 28:
Today, spot premiums for #1 copper cathode in North China against the front-month contract were reported at 640-740 yuan/mt, with an average of 690 yuan/mt, up 160 yuan/mt from the previous trading day. The average transaction price was 110,555 yuan/mt, up 625 yuan/mt from the previous trading day. Futures drifted higher, while downstream purchasing sentiment pulled back. Combined with relatively tight market supply, suppliers' willingness to sell also weakened. Overall market trading was sluggish, with transactions still dominated by cargo pick-up under long-term contracts, while spot order trading remained muted. Spot premiums for copper cathode in North China rose notably. Today, the purchasing sentiment index for copper cathode in North China stood at 1.97, down 0.22 from the previous trading day, while the selling sentiment index was 2.14, down 0.23. ().
