Stockpiling Nears End, Spot Premiums/Discounts Pull Back [SMM North China Spot Copper]

Published: Feb 10, 2026 11:54

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Today in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 360–160 yuan/mt, averaging a discount of 260 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 101,220 to 101,700 yuan/mt, with an average of 101,460 yuan/mt, up 180 yuan/mt from the previous trading day.

SMM Feb. 10:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 360-160 yuan/mt, with an average discount of 260 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices were 101,220-101,700 yuan/mt, with an average of 101,460 yuan/mt, up 180 yuan/mt from the previous trading day. As downstream stockpiling ahead of the Chinese New Year entered its final stage and copper prices increased, spot premiums/discounts pulled back. In North China today, the stockpiling sentiment for copper cathode was 1.62, down 0.16 from the previous trading day, while the shipment sentiment was 1.67, up 0.12 from the previous trading day ().

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