SMM reported on August 5:
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, unchanged from the previous trading day. The transaction price ranged from 78,300 yuan/mt to 78,430 yuan/mt, with an average price of 78,365 yuan/mt, up 245 yuan/mt from the previous trading day. Amid the off-season and the rebound in the center of copper prices, downstream demand has shown a slowing trend. However, suppliers currently face relatively small inventory pressure at the beginning of the month, and spot premiums/discounts continue to stabilize. Today, the spot market saw low trading activity.
