Year-End Approaching with Weak Demand; Suppliers Cut Prices for Sales, Premiums Decline [SMM North China Copper Cathode Spot Weekly Review]

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       This week, spot premiums/discounts in North China weakened. As of Thursday, spot discounts ranged from 220 yuan/mt to 140 yuan/mt, with an average discount of 180 yuan/mt. With year-end approaching, seasonal weakness in consumption emerged in the northern market. Downstream enterprises, constrained by cash flow pressure, gradually slowed their pace of picking up goods during the week. Suppliers reduced prices to clear inventory, and some cargoes were shipped southward. By the end of the week, some downstream enterprises closed their accounts, leading to a sharp drop in spot premiums/discounts. Looking ahead, apart from some invoice demand from downstream enterprises before the New Year holiday, overall demand is expected to remain weak. Suppliers may sell at low prices to seek transactions, and spot premiums/discounts are expected to remain under pressure.

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