SMM, January 7:
Today, spot copper in North China was quoted at a discount of 100-40 yuan/mt against the front-month contract, with an average discount of 70 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 74,030 to 74,330 yuan/mt, with an average price of 74,180 yuan/mt, up by 445 yuan/mt from the previous trading day. The market was still dominated by long-term contract deliveries, while downstream made just-in-time procurement. Spot premiums/discounts remained stable, and market trading activity showed mediocre performance.
