SMM July 30:
In North China today, spot #1 copper cathode against the front-month contract was quoted at premiums of 40-140 yuan/mt, with an average premium of 90 yuan/mt, up 5 yuan/mt from the previous trading day. The average transaction price was 105,350 yuan/mt, up 315 yuan/mt from the previous trading day. The market was in the traditional demand off-season, downstream demand remained sluggish, and purchasing sentiment continued to weaken. Copper prices stayed high, coupled with sluggish end-user purchasing, leading to a pullback in suppliers' willingness to sell, which edged up spot premiums in North China. Purchasing sentiment for copper cathode in North China was 1.39 today, down 0.02 from the previous trading day, and shipment sentiment was 2.73, down 0.16 from the previous trading day ().
