SMM September 10:
Today, spot #1 copper cathode in North China was at a discount of 170-130 yuan/mt against the front-month contract, with an average discount of 150 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices were 79,500-79,570 yuan/mt, with an average of 79,660 yuan/mt, down 125 yuan/mt from the previous trading day. High copper prices suppressed consumption, and downstream buyers found it difficult to accept prices above 79,000 yuan/mt, resulting in sluggish market activity and further declines in spot premiums/discounts. Today, purchasing sentiment for copper cathode in North China was 1.45, down 0.07 from the previous trading day, while selling sentiment was 2.33, down 0.02 from the previous trading day ().
