Rising copper prices dampen downstream buying interest, market cools down again [SMM North China spot copper]

SMM June 12 News:

Today, spot #1 copper cathode in North China against the front-month contract was reported with an average discount ranging from 260 yuan/mt to 140 yuan/mt, with an average discount of 200 yuan/mt, down 10 yuan/mt from the previous trading day. The average transaction price was 104,490 yuan/mt, up 1,460 yuan/mt from the previous trading day. Copper prices rebounded significantly today, dampening downstream buying interest and cooling market trading activity, with spot discounts failing to continue narrowing. Today, purchasing sentiment for copper cathode in North China was 2.02, down 0.51 from the previous trading day, while shipment sentiment was 1.77, up 0.20 ().