SMM, December 31:
Today, spot copper cathode in North China was quoted at a discount of 450-290 yuan/mt against the front-month contract, with an average discount of 370 yuan/mt, up by 30 yuan/mt from the previous trading day. Transaction prices ranged from 73,330 to 73,550 yuan/mt, with an average price of 73,440 yuan/mt, down by 375 yuan/mt from the previous trading day. On the last trading day of 2024, producers sold off their inventories at low prices to meet targets, while the party with sufficient funds dominated by suppressing spot premiums/discounts. Meanwhile, the current price spread between different order volumes remained significant.
