SMM, February 6:
Today, spot copper in North China was quoted at a discount of 340-180 yuan/mt against the front-month contract, with an average discount of 260 yuan/mt, down 50 yuan/mt from the previous trading day. Transaction prices ranged from 75,760-76,150 yuan/mt, with an average price of 75,955 yuan/mt, up 915 yuan/mt from the previous trading day. The rise in copper prices today, breaking through the 76,000 yuan/mt threshold, suppressed consumption. Spot premiums/discounts declined, but most downstream producers in the North China market had not resumed production or procurement, resulting in low market activity.
