Copper Market Sees Mixed Performance as Futures Spread Widens

The copper market saw a mixed performance on August 13th, according to SMM's Secondary Copper Daily Review. The futures closing price stood at 108,300 yuan/mt, down 380 yuan/mt from the previous trading day. Meanwhile, the average spot premium decreased by 140 yuan/mt to 145 yuan/mt.

Copper scrap prices remained unchanged, while the sales sentiment index for copper scrap was flat at 2.712. The purchase sentiment index for copper scrap also stayed steady at 1.83. The price difference between copper cathode and copper scrap narrowed to 4,596 yuan/mt, down 281 yuan/mt from the previous day.

The front-month futures contract neared delivery, leading to a widening of the price spread between futures contracts to 800 yuan/mt. Despite this, suppliers' offers for copper scrap were unchanged, and overall market transactions were mediocre.