North China Copper Market Shows Weak Demand and Low Trading Activity

Recent market activity in North China's copper spot market indicates subdued demand and limited trading volume. On August 4, 2025, spot #1 copper cathode was priced at a discount ranging from 150 to 90 yuan per metric ton relative to the front-month futures contract, with an average discount of 120 yuan, unchanged from the previous day. Transaction prices fluctuated between 78,060 and 78,180 yuan per metric ton, averaging 78,120 yuan, marking an increase of 85 yuan from the prior session. The overall demand remains lackluster due to seasonal factors, leading to stabilization in copper prices and a slowdown in procurement activity among downstream manufacturers. Trading activity in the spot market remains weak, reflecting cautious market sentiment.