SMM March 31 News:
Today, spot prices of #1 copper cathode in North China against the front-month contract were at a discount of 150-110 yuan/mt, with an average discount of 130 yuan/mt, up by 30 yuan/mt from the previous trading day. Transaction prices ranged from 79,710 to 79,890 yuan/mt, with an average of 79,800 yuan/mt, down by 650 yuan/mt from the previous trading day. Copper prices pulled back below the 80,000 yuan/mt threshold, which boosted restocking sentiment among enterprises. Spot premiums and discounts rose, though some downstream players remained cautious. If copper prices continue to weaken, demand in North China is expected to recover further.
