SMM May 30 Report:
Today, in North China, spot #1 copper cathode was trading at a discount of 180 yuan/mt to 80 yuan/mt against the front-month contract, with an average discount of 130 yuan/mt, unchanged from the previous trading day. The transaction prices ranged from 77,830 yuan/mt to 78,040 yuan/mt, with an average price of 77,935 yuan/mt, down 270 yuan/mt from the previous trading day. As it was the last trading day before the Dragon Boat Festival holiday, weak consumption led to no significant stockpiling activities by downstream enterprises before the holiday. Some processing enterprises even planned to conduct maintenance and cut production. Today, market trading activity remained mediocre.
