Copper Price Spread Widen in Guangdong Region Despite Weak Transactions

The price spread between futures contracts for copper continued to widen in the Guangdong region of China, reaching as much as 700 yuan/mt at one point on Thursday. Suppliers had to lower premiums to make sales, but actual transactions remained weak.

As of Thursday, high-quality copper was quoted at a discount of 20 yuan/mt, down 110 yuan/mt from the previous Thursday; standard-quality copper was quoted at a discount of 120 yuan/mt, down 130 yuan/mt from the previous Thursday; and SX-EW copper was quoted at a discount of 200 yuan/mt, down 170 yuan/mt from the previous Thursday.

The price spread between Shanghai and Guangdong for standard-quality copper widened to 140 yuan/mt, with Shanghai lower. However, there was no interregional cargo transfer this week.