SMM March 5 News:
Today, spot copper cathode in North China was quoted at a discount of 230-190 yuan/mt against the front-month contract, with an average discount of 210 yuan/mt, up 50 yuan/mt from the previous trading day. Transaction prices ranged from 76,550-76,710 yuan/mt, with an average price of 76,630 yuan/mt, down 90 yuan/mt from the previous trading day. Copper prices continued to drop back slightly, stimulating some downstream buying interest, while upstream inventory pressure remained relatively small, providing suppliers with the motivation to stand firm on quotes, leading to higher spot premiums and discounts.
