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Weak downstream demand, poor purchase willingness, and sluggish spot cargo trading activity [SMM spot copper in North China]
May 12, 2025, at 11:13 am
Today, spot #1 copper cathode in North China was trading at a discount of 400 yuan/mt to 260 yuan/mt against the front-month contract, with an average discount of 330 yuan/mt, a decrease of 30 yuan/mt from the previous trading day. The transaction prices ranged from 77,710 yuan/mt to 78,210 yuan/mt, with an average price of 77,960 yuan/mt, an increase of 135 yuan/mt from the previous trading day.
SMM May 12 Report:
Today, in North China, spot #1 copper cathode traded at a discount of 400 yuan/mt to 260 yuan/mt against the front-month contract, with an average discount of 330 yuan/mt. This represents a decrease of 30 yuan/mt compared to the previous trading day. The transaction prices ranged from 77,710 yuan/mt to 78,210 yuan/mt, with an average price of 77,960 yuan/mt, up 135 yuan/mt from the previous trading day. As the contract rollover delivery date approaches, consumption performance has weakened due to the impact of the price spread between futures contracts. Downstream orders are poor, and purchase willingness is low, resulting in sluggish spot trading activity.
