Guangdong Copper Spot Prices Unchanged on Last Trading Day Before Holiday
The last trading day before the holiday was marked by quiet market activity in Guangdong. Spot prices for #1 copper cathode against the front-month contract remained unchanged, with high-quality copper quoted at a premium of 900 yuan/mt and standard-quality copper at a premium of 600 yuan/mt.
The average price of #1 copper cathode in Guangdong was 111,130 yuan/mt, up 490 yuan/mt from the previous trading day. SX-EW copper averaged 110,920 yuan/mt, also up 490 yuan/mt from the previous day.
Guangdong inventory continued to edge down due to reduced arrivals. The spot market was characterized by weak willingness to transact among suppliers and buyers, as many enterprises were closed for 5-6 days and are expected to restock only after the holiday.