North China Copper Spot Premiums Edge Down on Weak Demand

Spot premiums for copper cathode in North China declined on July 29 due to insufficient end-user purchasing motivation. According to SMM, spot #1 copper cathode against the front-month contract was quoted at average premiums of 40 yuan/mt to 130 yuan/mt, with an average premium of 85 yuan/mt, down 10 yuan/mt from the previous trading day.

The average transaction price for copper cathode in North China also decreased by 25 yuan/mt from the previous day, reaching 105,035 yuan/mt. Suppliers' willingness to sell increased slightly, but end-user purchasing strength was insufficient, driving spot premiums lower.