North China Copper Spot Prices Soften Amid Weakening Buying Sentiment

Spot copper prices in North China softened on September 28, with premiums against the front-month contract falling to 850-950 yuan/mt, down 100 yuan/mt from the previous trading day. The average premium was 900 yuan/mt, while the average transaction price was 110,935 yuan/mt, a decrease of 835 yuan/mt.

The National Day holiday approaching has contributed to weakening downstream stockpiling and buying sentiment. As a result, suppliers' willingness to sell increased, with spot supply slightly looser than earlier in the day.

However, futures prices continued to drift lower, indicating ongoing uncertainty in the market. The purchasing sentiment for copper cathode in North China was 1.25, down 0.03 from the previous trading day, while the selling sentiment was 1.85, up 0.12.