SMM August 1 News:
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, a decrease of 10 yuan/mt from the previous trading day. The transaction price ranged from 77,960 yuan/mt to 78,110 yuan/mt, with an average price of 78,035 yuan/mt, a decrease of 240 yuan/mt from the previous trading day. On the first trading day of August, due to factors such as capital flow, market trading activity was not high. This week, the spot market has generally shown a pattern of weak supply and demand, with relatively small fluctuations in spot premiums/discounts. However, as the center of copper prices gradually declines, demand is expected to improve next week, providing suppliers with the motivation to refuse to budge on prices.
