SMM News on August 6:
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 78,080 yuan/mt to 78,170 yuan/mt, with an average price of 78,125 yuan/mt, down 240 yuan/mt from the previous trading day. Copper prices fluctuated, with downstream enterprises showing low recognition of the current prices. Poor consumption led to a decline in the operating rate of processing enterprises. However, suppliers were not in a hurry to sell at low prices, resulting in sluggish trading activity in the spot market. Spot premiums/discounts stabilized.
