SMM June 19 report:
Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 140 yuan/mt to a discount of 40 yuan/mt, with an average discount of 90 yuan/mt, a decrease of 50 yuan/mt from the previous trading day. The transaction prices ranged from 78,360 yuan/mt to 78,530 yuan/mt, with an average price of 78,445 yuan/mt, a decrease of 165 yuan/mt from the previous trading day. Against the backdrop of the off-season, consumer demand remains unsatisfactory. As the mid-year period approaches, producers have a need to clear inventory, leading to a decline in spot premiums and discounts. Meanwhile, trading activity in the spot market is sluggish today.
