SMM News on June 11:
Today, in North China, spot #1 copper cathode traded at a discount of 200 yuan/mt to 120 yuan/mt against the front-month contract, with an average discount of 160 yuan/mt, an increase of 20 yuan/mt from the previous trading day. The transaction prices ranged from 78,990 yuan/mt to 79,120 yuan/mt, with an average price of 79,055 yuan/mt, up 45 yuan/mt from the previous trading day. As the center of copper prices rose, downstream consumer demand was suppressed. However, during the week, some large processing enterprises, having depleted their previous inventories, resumed production levels and restocked, leading to an increase in market trading volume.
