North China Copper Spot Prices Edge Up Amid Limited Supply
Copper spot prices in North China rose slightly on August 28, as premiums against the front-month contract increased. The average premium was 190 yuan/mt, up 20 yuan/mt from the previous trading day.
The average transaction price for #1 copper cathode in North China reached 109,250 yuan/mt, a gain of 160 yuan/mt from the previous day's prices. This increase is attributed to limited available supply and higher premiums in east China, which boosted suppliers' willingness to hold prices firm.
However, downstream demand remained weak, leading to a decline in purchase willingness and market trading activity. The copper cathode purchasing sentiment in North China was 1.35, down 0.04 from the previous day, while shipment sentiment was 2.44, down 0.09 from the previous day.