On the first trading day after the holiday, some downstream enterprises had not yet resumed work [SMM North China Spot Copper]

Published: Feb 24, 2026 11:24

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Spot prices of #1 copper cathode in North China against the front-month contract were at a discount of 200-20 yuan/mt today, with an average discount of 110 yuan/mt, up 160 yuan/mt from the previous trading day. Transaction prices ranged from 100,530-101,740 yuan/mt, with an average price of 101,135 yuan/mt, up 1,170 yuan/mt from the previous trading day.

SMM February 24 News:

Today in North China, spot #1 copper cathode against the front-month contract was at a discount of 200-20 yuan/mt, with an average discount of 110 yuan/mt, up 160 yuan/mt from the previous trading day. Transaction prices ranged from 100,530-101,740 yuan/mt, with an average price of 101,135 yuan/mt, up 1,170 yuan/mt from the previous trading day. The first trading day after the holiday coincided with delivery, while some downstream enterprises in the north had not yet resumed operation, and upstream smelters accumulated inventory. Spot premiums/discounts are expected to remain under pressure in the near term. Today in North China, the procurement sentiment for copper cathode was 1.01, up 0.08 from the previous trading day, while the shipment sentiment was 1.58, up 0.57 from the previous trading day ().

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