SMM March 18 News:
Today, spot copper cathode 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, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 80,180-80,390 yuan/mt, with an average price of 80,285 yuan/mt, up 485 yuan/mt from the previous trading day. According to SMM methodology, spot copper cathode in North China was quoted based on the front-month contract today. After the contract rollover, spot premiums and discounts dropped back slightly. Copper prices climbed above the 80,000 yuan/mt mark, but consumption showed signs of weakness, with low willingness from downstream buyers to purchase. Suppliers found it challenging to stand firm on quotes.
