SMM, January 21:
Today, spot copper in North China was quoted at a discount of 350-210 yuan/mt against the front-month contract, with an average discount of 280 yuan/mt, down 60 yuan/mt from the previous trading day. Transaction prices ranged from 75,120-75,390 yuan/mt, with an average price of 75,255 yuan/mt, up 110 yuan/mt from the previous trading day. As the Chinese New Year holiday approached, downstream enterprises gradually entered a holiday mode, and those still operating reduced production rates, focusing on consuming raw material inventory. The cargo pick-up pace slowed, while copper prices continued to rise. Suppliers lowered prices to promote sales, but market trading activity remained sluggish.
![Preços elevados do cobre suprimem as compras a jusante; taxa de operação e novos pedidos continuam em declínio [Análise Semanal do Mercado de Fios Esmaltados SMM]](https://imgqn.smm.cn/usercenter/mPNrH20251217171709.jpg)
