SMM reported on July 1:
Today, in north China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 150 yuan/mt to a discount of 90 yuan/mt, with an average discount of 120 yuan/mt, up 30 yuan/mt from the previous trading day. The transaction price ranged from 79,820 yuan/mt to 79,950 yuan/mt, with an average price of 79,885 yuan/mt, up 175 yuan/mt from the previous trading day. As the mid-year period has passed, spot premiums/discounts in north China have risen, driven by increases in east China. However, due to poor consumption performance in north China, the operating rate of processing enterprises has weakened, and demand has remained sluggish, limiting the local price increase and resulting in sluggish trading activity.
