SMM News on July 22:
Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 170 yuan/mt to a discount of 70 yuan/mt, with an average discount of 120 yuan/mt, a decrease of 10 yuan/mt from the previous trading day. The transaction price ranged from 79,300 yuan/mt to 79,490 yuan/mt, with an average price of 79,395 yuan/mt, an increase of 170 yuan/mt from the previous trading day. The center of copper prices continued to climb, and the suppressed consumption led to an increased expectation of inventory buildup in finished product inventories of processing enterprises. As the month-end period approached, suppliers offered discounts to sell, resulting in a slight decrease in spot premiums/discounts.
