Guangdong Copper Cathode Premiums and Prices Decline Amid Increased Demand

The copper market in Guangdong saw a decline in premiums and prices for high-quality and standard-quality copper cathodes, as well as SX-EW copper. The spot price of high-quality copper against the front-month contract fell by 60 yuan/mt to 100 yuan/mt, while standard-quality copper was at parity with no premium or discount.

The average price of Guangdong #1 copper cathode dropped to 107,945 yuan/mt from 108,355 yuan/mt on the previous trading day. The decrease in prices put pressure on suppliers to sell, leading them to lower their prices and causing spot premiums to drop significantly.

Despite the decline in prices, downstream users' purchasing enthusiasm increased compared to last Friday, with the purchasing sentiment rising by 0.07 to 2.35. Selling sentiment also improved slightly, increasing by 0.03 to 2.88.