SMM March 10 News:
Today, spot copper in North China was quoted at a discount of 210-170 yuan/mt against the front-month contract, with an average discount of 190 yuan/mt, up 20 yuan/mt from the previous trading day. Transaction prices ranged from 78,020-78,160 yuan/mt, with an average price of 78,090 yuan/mt, down 495 yuan/mt from the previous trading day. The center of copper prices pulled back slightly but remained at a high level above 78,000 yuan/mt. Overall consumption demand showed mediocre performance, with downstream buyers restocking as needed. However, as delivery approached, some suppliers showed weak willingness to sell and stood firm on quotes, leading to a slight increase in spot premiums/discounts.
