SMM News on June 16:
Today, spot #1 copper cathode in North China was quoted at a discount of 250 yuan/mt to 190 yuan/mt against the front-month contract, with an average discount of 220 yuan/mt, up 30 yuan/mt from the previous trading day. The transaction prices ranged from 78,250 yuan/mt to 78,530 yuan/mt, with an average price of 78,390 yuan/mt, down 280 yuan/mt from the previous trading day. According to SMM methodology, spot copper cathode in North China was quoted against the front-month contract today. On the day of contract rollover and delivery, suppliers mostly quoted prices for the next-month contract at parity to a premium of around 80 yuan/mt. Actual transactions were sluggish, with activity cooling down WoW.
