North China Copper Prices Hold Steady as Contract Rollover Looms

Copper prices in North China held steady as the contract rollover window approached. Spot #1 copper cathode prices against the front-month contract were quoted at discounts of 420-350 yuan/mt, with an average discount of 385 yuan/mt, unchanged from the previous trading day.

The average transaction price was 107,830 yuan/mt, down 40 yuan/mt from the previous trading day. Downstream wait-and-see sentiment was strong as suppliers' willingness to sell pulled back somewhat.

Traders generally waited for the contract rollover market, and market trading remained thin. Spot discounts in North China temporarily stabilized today.