Trading Day of February Spot premiums/discounts operated at low levels [SMM North China spot copper]

Published: Feb 27, 2026 11:44

Save

In North China today, spot #1 copper cathode prices against the front-month contract were at a discount of 500-420 yuan/mt, with an average discount of 460 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 101,530-102,030 yuan/mt, with an average of 101,780 yuan/mt, down 210 yuan/mt from the previous trading day.

SMM February 27 news:

Today, spot premiums/discounts for #1 copper cathode against the front-month contract in North China were at a discount of 500-420 yuan/mt, with an average discount of 460 yuan/mt, unchanged from the previous trading day. Transaction prices were 101,530-102,030 yuan/mt, with an average price of 101,780 yuan/mt, down 210 yuan/mt from the previous trading day. As next week enters March, downstream enterprises are expected to resume production and restock, and spot premiums/discounts may see some recovery. Today, the procurement sentiment for copper cathode in North China was 1.45, up 0.37 from the previous trading day, and the shipment sentiment was 1.65, up 0.34 from the previous trading day ().

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Cable Resumption Steadily Advances, Demand Recovery Awaits Yuanxiao [SMM Wire and Cable Market Weekly Review]

1 hour ago

Copper Cathode Rod Industry Sees 6.42% Weekly Rise, Full Resumption Expected Next Week

【SMM Copper Cathode Rod Express】The operating rate of the copper cathode rod industry increased by 6.42 percentage points WoW this week, with the industry's resumption progress remaining relatively slow. Looking ahead to next week, the industry is expected to achieve a full-scale resumption, and SMM forecasts the operating rate will rise by 39.59 percentage points MoM to 57.97%.

1 hour ago

Common.Time.hoursAgo

Copper Supply to Rise, Spot Discounts Under Pressure Amid Supply-Demand Mismatch

Looking ahead to next week, SHFE copper spot supply is set to increase, with Peruvian and Japanese cargoes visible intraday. The contango spread between adjacent months widened slightly, and persistent willingness to deliver to warehouses further diverts spot liquidity. Although some suppliers hold prices firm, expectations of warrant outflows pressure spot premiums/discounts. Downstream production has not fully resumed; procurement sentiment is cautious but recovering. Amid supply-demand mismatch, social inventory is expected to continue building. Overall, supply pressure will keep spot discounts under pressure next week.

Common.Time.hoursAgo