The Chinese New Year Holiday Is Approaching, and the Market Atmosphere Is Quiet [SMM North China Spot Copper]

Jan 24, 2025, at 11:30 am

SMM, January 24: Today, spot copper cathode in North China was quoted at a discount of 350-270 yuan/mt against the front-month contract, with an average discount of 310 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 74,830-75,130 yuan/mt, with an average price of 74,980 yuan/mt, up 310 yuan/mt from the previous trading day. As the Chinese New Year holiday approaches, only sporadic transactions and quotations remain in the market. Looking ahead to after the holiday, spot premiums/discounts are expected to rebound to some extent, but restocking demand will still depend on copper prices. » Subscribe to access historical SMM metal spot prices.

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The Chinese New Year Holiday Is Approaching, and the Market Atmosphere Is Quiet [SMM North China Spot Copper]

Scrap Recycling Operating Rate Increased; January Medium-Heavy Rare Earth Oxide Production Showed Relatively Small MoM Change [SMM Analysis]

[SMM Hot Topic] (Review and Outlook on Steel Exports by Region) Steel Exports in 2024 Are Expected to Be Up 22.7% YoY, with Vietnam Remaining the Leading Destination in Total Export Volume