SMM, February 27:
Today, spot copper in North China was quoted at a discount of 300-260 yuan/mt against the front-month contract, with an average discount of 280 yuan/mt, up 40 yuan/mt from the previous trading day. Transaction prices ranged from 76,530-76,690 yuan/mt, with an average price of 76,610 yuan/mt, down 140 yuan/mt from the previous trading day. As month-end approached, downstream demand showed mediocre performance, but there was some demand for cargoes with invoices dated this month. Meanwhile, copper prices weakened, and suppliers stood firm on quotes, leading to a rebound in spot premiums and discounts.
