Copper Prices Weaken, Secondary Copper Rod Enterprises' Purchase Willingness Flat [SMM Secondary Copper Daily Review]

Published: Jul 6, 2026 14:47

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SMM July 7

At 11:30 today, the futures closing price was 103,110 yuan/mt, up 40 yuan/mt from the previous trading day. Spot premiums averaged 80 yuan/mt, up 20 yuan/mt from the previous trading day. Today, the copper scrap price rose 200 yuan/mt from the previous trading day. The sentiment index for copper scrap sales fell to 2.38, while the sentiment index for purchases rose to 2.43. The price difference between copper cathode and copper scrap was 1,793 yuan/mt, down 164 yuan/mt from the previous trading day. The price difference between copper cathode rod and secondary copper rod was 530 yuan/mt. According to SMM survey, copper price momentum weakened, with prices basically flat from last Friday. Suppliers of copper scrap showed moderate willingness to sell, while secondary copper rod enterprises, despite having purchase willingness, preferred to buy the dip and were unwilling to trade at market prices.

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