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High copper prices and high premiums led to poor downstream willingness to rush to buy amid continuous price rise, resulting in overall weak transactions. [SMM South China Spot Copper]

  • Mar 25, 2025, at 3:37 pm
SMM March 25 News: Today, spot prices of #1 copper cathode in Guangdong against the front-month contract were reported at a premium of 160-220 yuan/mt, with an average premium of 190 yuan/mt, unchanged from the previous trading day. SX-EW copper was reported at a premium of 80-100 yuan/mt, with an average discount of 90 yuan/mt, unchanged from the previous trading day. The average price of #1 copper cathode in Guangdong was 81,835 yuan/mt, up 745 yuan/mt from the previous trading day, while the average price of SX-EW copper was 81,735 yuan/mt, up 745 yuan/mt from the previous trading day. Spot market: Inventory in Guangdong continued to increase today, mainly due to the rise in southbound supply. Although inventory continued to grow, the increase was not significant, so suppliers did not further lower prices and instead maintained yesterday's quotes. However, downstream companies, faced with high copper prices and high premiums, were unwilling to rush to buy amid continuous price rises, only making small replenishments, resulting in overall poor trading. As of 11:00, high-quality copper against the front-month contract was quoted at a premium of 220 yuan/mt, standard-quality copper at 160 yuan/mt, and SX-EW copper at a premium of 90 yuan/mt. Overall, although inventory has increased for two consecutive days, suppliers are unwilling to lower prices for shipments, leading to poor overall trading.
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