North China Copper Cathode Prices Slide Amid Slight Recovery in Spot Premiums

Copper cathode prices in North China continued to slide, despite a slight recovery in spot premiums. The average premium for spot #1 copper cathode against the front-month contract was quoted at 95 yuan/mt, down 25 yuan/mt from the previous trading day.

The average transaction price for copper cathode was 105,060 yuan/mt, a decrease of 320 yuan/mt compared to the previous day. The slight recovery in spot premiums in North China was driven by a slight improvement in market transactions and suppliers' willingness to sell remained stable.

Futures saw a small correction, with limited rigid demand released downstream. Suppliers' willingness to sell remained basically stable, while market transactions recovered slightly, driving the slight recovery in spot premiums. The purchasing sentiment for copper cathode in North China was 1.44, an increase of 0.02 from the previous trading day.