SMM News on July 18:
Today, in North China, spot #1 copper cathode is trading at a discount of 140 yuan/mt to 80 yuan/mt against the front-month contract, with an average discount of 110 yuan/mt, up 10 yuan/mt from the previous trading day. The transaction price ranges from 78,250 yuan/mt to 78,500 yuan/mt, with an average price of 78,375 yuan/mt, up 580 yuan/mt from the previous trading day. After the center of copper prices weakened during the week, the downstream operating rate recovered, and overall demand improved. If copper prices rebound significantly, the outlook for next week is relatively optimistic, and suppliers' reluctance to budge on prices is gradually strengthening.
