SMM August 20 Update:
In North China, spot prices of #1 copper cathode against the front-month contract ranged from a discount of 70 yuan/mt to 50 yuan/mt, averaging a discount of 60 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices were between 78470 and 78570 yuan/mt, with an average of 78520 yuan/mt, down 345 yuan/mt from the previous trading day. Amidst mediocre performance in consumption, processing enterprises had been stockpiling for some time. Some suppliers, concerned about weakening future demand, offered discounts, leading to a slight pullback in spot premiums and discounts. The sentiment for purchasing copper cathode in North China today was 1.95, down 0.10 from the previous trading day, while the sentiment for selling was 1.75, up 0.07 (historical data can be accessed by logging into the database For more, subscribe to view SMM's historical spot metal prices
