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Inventory Declines for Five Consecutive Days as Suppliers Actively Stand Firm on Quotes and Sell, but Actual Transactions Are Average [SMM South China Spot Copper]

  • Mar 10, 2025, at 11:56 am
SMM March 10 News: Today, spot #1 copper cathode in Guangdong was quoted at a discount of 10 yuan/mt to a premium of 50 yuan/mt against the front-month contract, with the average premium at 20 yuan/mt, up 35 yuan/mt from the previous trading day. Hydro copper was quoted at a discount of 80 yuan/mt to 60 yuan/mt, with the average discount at 70 yuan/mt, up 50 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 78,335 yuan/mt, down 440 yuan/mt from the previous trading day, while the average price of hydro copper was 78,305 yuan/mt, down 425 yuan/mt from the previous trading day. Spot Market: Guangdong inventory has declined for five consecutive days, mainly due to reduced arrivals. Currently, inventory has fallen below the 60,000 mt mark, down 15,700 mt from the yearly high. With inventory continuously decreasing, suppliers actively stood firm on quotes. In the early session, standard-quality copper once rose to parity, but the excessive increase deterred downstream purchases, forcing suppliers to lower premiums for sales. As of 11:00 am, high-quality copper against the front-month contract was quoted at a premium of 50 yuan/mt, standard-quality copper at a discount of 10 yuan/mt, and hydro copper at a discount of 70 yuan/mt. Attention is on whether the inventory will continue to decline. Overall, inventory has fallen for five consecutive days, and suppliers actively stood firm on quotes, but actual transactions were moderate. 》Subscribe to view SMM historical spot metal prices          
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