The Market Was Quiet on the Penultimate Trading Day Before the Holiday, with Only Sporadic Transactions [SMM South China Spot Copper]

Jan 24, 2025, at 11:10 am

Today, spot #1 copper cathode in Guangdong was quoted at a discount of 350 yuan/mt to parity against the front-month contract, with an average discount of 175 yuan/mt, unchanged from the previous trading day. Hydro copper was quoted at a discount of 450-410 yuan/mt, with an average discount of 430 yuan/mt, also unchanged from the previous trading day. The average price of #1 copper cathode in Guangdong was 75,040 yuan/mt, up 195 yuan/mt from the previous trading day, while the average price of hydro copper was 74,785 yuan/mt, up 195 yuan/mt from the previous trading day. Spot market: Guangdong inventory has risen for 10 consecutive days, mainly due to weak consumption and increased arrivals. As most downstream buyers have already gone on holiday, suppliers were unwilling to further lower prices, keeping quotes at yesterday's levels, with very few actual transactions. As of 11:00 am, high-quality copper was quoted at parity against the front-month contract, standard-quality copper at a discount of 350 yuan/mt, and hydro copper at a discount of 430 yuan/mt. Overall, on the penultimate trading day before the holiday, market activity remained sluggish, with only sporadic transactions. 》Subscribe to view historical SMM metal spot prices

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