SMM News on July 16:
Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 180 yuan/mt to a discount of 100 yuan/mt, with an average discount of 140 yuan/mt, a decrease of 30 yuan/mt from the previous trading day. The transaction price ranged from 77,720 yuan/mt to 77,930 yuan/mt, with an average price of 77,825 yuan/mt, an increase of 60 yuan/mt from the previous trading day. This week, as the center of copper prices moved downward, market demand slightly recovered. However, downstream buyers had some concerns about further price declines, leading to disagreements between buyers and sellers over the current prices. After the contract rollover, spot premiums and discounts weakened.
