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This week, spot premiums/discounts in North China fluctuated rangebound. As of Thursday, spot premiums/discounts were at a discount of 50 yuan/mt to a premium of 10 yuan/mt, with an average discount of 20 yuan/mt. After entering late April, copper prices remained relatively stable, with the center slightly moving upward. The widening price difference between copper cathode and copper scrap has somewhat suppressed the consumption of copper cathode, and downstream just-in-time procurement dominated, keeping the market mediocre. Suppliers faced pressure on spot premiums/discounts due to the need to clear inventory by month-end. Next week, as the Labour Day holiday approaches, downstream stocking demand will emerge, and suppliers will continue to clear inventory. It is expected that both supply and demand will show growth.
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