SMM News on August 11:
Today, in North China, spot #1 copper cathode is trading at a discount of 140 yuan/mt to 100 yuan/mt against the front-month contract, with an average discount of 120 yuan/mt, unchanged from the previous trading day. The transaction price ranges from 78,810 yuan/mt to 78,920 yuan/mt, with an average price of 78,865 yuan/mt, up 575 yuan/mt from the previous trading day. As downstream processing enterprises of copper cathode maintain a high level of operation and pick up goods, the supply and demand in the market have remained relatively stable recently, and spot premiums/discounts have continued to hold steady. However, with the rise in copper prices, there is currently a trend of inventory buildup in semi-finished copper products.
