SMM, December 30:
Today, spot copper in North China was quoted at a discount of 450-350 yuan/mt against the front-month contract, with an average discount of 400 yuan/mt, down 100 yuan/mt from the previous trading day. Transaction prices ranged from 73,720-73,910 yuan/mt, with an average price of 73,815 yuan/mt, down 155 yuan/mt from the previous trading day. With only two trading days left in 2024, most downstream buyers have closed their accounts and ceased procurement, while upstream producers cleared inventories for the weekend and the final two days at low prices, leading to a drop in transaction prices to low levels.
