Spot Copper Prices in North China to Rise Further

SHANGHAI, Mar 20 (SMM) -Spot quotes in north China rose last week. Spot copper was quoted with discounts of 310-90 yuan/mt, or an average discount of 200 yuan/mt on March 10, and was quoted with discounts of 200 yuan/mt to premiums of 20 yuan/mt, or an average discount of 90 yuan/mt on March 17, 110 yuan/mt higher than a week earlier. At the beginning of the week, sellers raised prices against approaching delivery and large discounts. After the delivery, the copper prices fell sharply, and the price difference between copper cathode and copper scrap products narrowed significantly. The downstream buyers actively purchased copper cathode, and the sellers took advantage of the trend to raise quotes. It is expected that there is still upside room for spot quotes this week.