North China Copper Cathode Spot Prices Rebound on Rollover Demand
Spot #1 copper cathode in North China was quoted at a discount of 150-50 yuan/mt against the front-month contract, with an average discount of 100 yuan/mt. This marks an increase of 60 yuan/mt from the previous trading day. The average transaction price for copper cathode was 107,447 yuan/mt, down 1,300 yuan/mt from the previous day.
The market saw a noticeable recovery in downstream purchase willingness as futures continued to decline and the delivery contract rollover period approached. This led to a concentrated release of essential restocking demand, with suppliers' willingness to sell increasing and spot premiums recovering in North China.
The purchase sentiment for copper cathode in North China was 1.26, up 0.09 from the previous trading day, while the selling sentiment was 2.81, up 0.03 from the previous day.