SMM, January 15:
Today, spot copper cathode in North China was quoted at a discount of 200-120 yuan/mt against the front-month contract, with an average discount of 160 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices were 75,100-75,340 yuan/mt, with an average price of 75,220 yuan/mt, down 25 yuan/mt from the previous trading day. According to SMM methodology, spot copper cathode in North China was quoted based on the front-month contract. Affected by the price spread between futures contracts, spot premiums/discounts continued to weaken today, and some downstream buyers have already started their holidays, leading to overall weak market demand.
