SMM, January 9:
Today, spot copper in North China was quoted at a discount of 190-70 yuan/mt against the front-month contract, with an average discount of 130 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 74,430 to 74,650 yuan/mt, with an average price of 74,540 yuan/mt, up 215 yuan/mt from the previous trading day. The center of copper prices continued to rise slightly. Market demand remained weaker during the off-season, and downstream stockpiling activities were almost absent. Spot trading activity was mediocre, and spot premiums/discounts were under pressure.
![Estoques caem por 13 semanas consecutivas para nova mínima do ano; prêmios spot seguem subindo [Análise semanal do cobre catódico spot no Sul da China – SMM]](https://imgqn.smm.cn/usercenter/vdbfy20251217171709.jpg)
![Importações de suprimento combinadas com backwardation crescente, prêmios do cobre à vista em Xangai recuam após alta rápida [Revisão Semanal do Cobre à Vista em Xangai da SMM]](https://imgqn.smm.cn/usercenter/KTLHT20251217171714.jpeg)
