SMM January 19:
Today, in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 450-330 yuan/mt, with an average discount of 390 yuan/mt, up 10 yuan/mt from the previous trading day. Transaction prices ranged from 100,380-100,960 yuan/mt, with an average of 100,670 yuan/mt, down 910 yuan/mt from the previous trading day. Although copper prices moved lower, market activity did not improve significantly at the beginning of the week. Downstream players maintained a wait-and-see sentiment, and actual spot transactions were sluggish. Today, in North China, the purchasing sentiment for copper cathode was 1.28, down 0.01 from the previous trading day, while the selling sentiment was 1.55, down 0.03 from the previous trading day ().
