North China Spot Copper Discounts Continue to Widen

The North China spot copper market saw discounts against front-month contracts continue to widen. On August 11, spot #1 copper cathode in North China averaged a discount of 255 yuan/mt compared to the front-month contract, down 50 yuan/mt from the previous trading day.

The average transaction price for spot #1 copper cathode in North China was 108,300 yuan/mt, up 640 yuan/mt from the previous trading day. Despite this increase, market transactions remained sparse due to sluggish downstream purchasing willingness and insufficient end-user buying interest.

Suppliers' willingness to sell stayed high, with quotes being actively lowered to facilitate transactions. The purchase sentiment for copper cathode in North China remained unchanged at 1.01, while the selling sentiment was also unchanged at 2.99.