End-use demand shows no improvement yet, tight supply and holding prices firm push up spot copper discounts in North China [SMM North China Copper Spot]

Published: Jul 8, 2026 11:30

Save

In North China, spot #1 copper cathode was quoted at a discount of 80 yuan/mt to parity against the front-month contract today, with an average discount of 40 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 102,820 yuan/mt, down 215 yuan/mt from the previous trading day.

SMM July 8 —

Today, spot #1 copper cathode in North China against the front-month contract was reported at an average discount ranging from 80 yuan/mt to parity, with an average discount of 40 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 102,820 yuan/mt, down 215 yuan/mt from the previous trading day. Downstream procurement pace remained flat compared to yesterday, with only sporadic purchases for essential needs; suppliers held prices firm with steady sentiment, available spot cargoes in the market were limited, and spot discounts continued to narrow. Overall market trading activity showed mediocre performance. Today, North China copper cathode procurement sentiment was 2.41, unchanged from the previous trading day, and shipment sentiment was 2.42, down 0.02 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 for 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

Common.Time.minsAgo

BHP Awards Over A$200 Million Contract to China Nerin for Olympic Dam Expansion

BHP has awarded a contract worth more than A$200 million (US$138.8 million) to China Nerin Engineering to design and supply key processing facilities for the proposed expansion of its Olympic Dam smelter and refinery in South Australia. The contract will be executed in stages as BHP progresses project studies ahead of a potential final investment decision (FID) in 2027, with the equipment supply phase subject to FID approval. The expanded facilities are expected to be completed by early 2032 and form a key part of BHP's strategy to increase copper production in South Australia to 500,000 tonnes per year through the 2030s.

Common.Time.minsAgo

Ivanhoe Maintains 2026 Copper Guidance as Kamoa-Kakula Output Set to Rebound in H2

Ivanhoe Mines said copper production at its flagship Kamoa-Kakula complex in the Democratic Republic of Congo is expected to increase significantly in the second half of 2026, while maintaining its full-year production guidance of 290,000-330,000 tonnes. The operation produced 64,328 tonnes of copper in the second quarter, bringing first-half output to 135,745 tonnes. The company expects mining rates at the Kakula mine to increase by about 30% in H2, supported by the planned drawdown of up to 10,000 tonnes of inventory. Ivanhoe also noted that sulphuric acid prices remain exceptionally strong, with July sales contracts reaching approximately US$840 per tonne, a record high.

Common.Time.minsAgo

Groups Call for End to E-Scrap Imports into the Philippines

nvironmental groups are calling for the Philippines to stop e-scrap imports after alleging that at least 234 containers of suspected e-waste were shipped from the United States to the country since March 2025. The issue highlights rising regulatory pressure on Southeast Asian imports of e-scrap and lower-quality secondary materials.

Common.Time.minsAgo