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Supplier sells at low prices, spot premiums/discounts drop rapidly [SMM spot copper in North China]
May 22, 2025, at 11:26 am
Today, spot #1 copper cathode in North China was trading at a discount of 140 yuan/mt to parity against the front-month contract, with an average discount of 70 yuan/mt, a decrease of 70 yuan/mt from the previous trading day. The transaction prices ranged from 77,720 to 78,040 yuan/mt, with an average price of 77,880 yuan/mt, down 305 yuan/mt from the previous trading day.
SMM May 22 Report:
Today, in North China, the spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 140 yuan/mt to parity, with an average discount of 70 yuan/mt, a decrease of 70 yuan/mt from the previous trading day. The transaction prices ranged from 77,720 to 78,040 yuan/mt, with an average price of 77,880 yuan/mt, a decrease of 305 yuan/mt from the previous trading day. Market demand remained sluggish during the off-season, while some suppliers needed to clear inventory and were pessimistic about the market outlook, leading to lower spot prices and a rapid decline in premiums/discounts.
