SMM December 15 News:
In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 240-200 yuan/mt, with an average discount of 220 yuan/mt, up 60 yuan/mt from the previous trading day. Transaction prices ranged from 91,850 to 92,130 yuan/mt, with an average of 91,990 yuan/mt, down 1,345 yuan/mt from the previous trading day. According to SMM methodology, spot copper cathode in North China was quoted against the front-month contract today. On the contract rollover and delivery day, spot premiums/discounts rose due to the futures price spread structure. Meanwhile, most suppliers quoted against the next-month contract at around a discount of 300 yuan/mt. Copper prices pulled back today, and market activity saw a slight rebound. In North China, the procurement sentiment for copper cathode was 1.15, up 0.14 from the previous trading day, while the sales sentiment was 1.88, up 0.13 from the previous trading day ().
