SMM March 12 News:
Today, spot copper in North China was quoted at a discount of 150-110 yuan/mt against the front-month contract, with an average discount of 130 yuan/mt, up 20 yuan/mt from the previous trading day. Transaction prices ranged from 78,270-78,610 yuan/mt, with an average price of 78,440 yuan/mt, up 930 yuan/mt from the previous trading day. Copper prices surged today, significantly dampening downstream demand and reducing buying interest. However, as the delivery date approaches and North China enters the period of long-term contract negotiations, suppliers stood firm on quotes, leading to a decline in market trading activity compared to the past two days.
