Downstream Fully Resumes Production Market Activity Warms Up [SMM North China Spot Copper]

Published: Mar 3, 2026 11:20

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In North China, #1 copper cathode spot prices against the front-month contract ranged from a discount of 460 to 300 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 101,520 yuan/mt, down 520 yuan/mt from the previous trading day.

SMM on March 3:

Today, in North China, spot #1 copper cathode traded at a discount of 460-300 yuan/mt against the front-month contract, up by 20 yuan/mt from the previous trading day, with an average transaction price of 101,520 yuan/mt, down by 520 yuan/mt from the previous trading day. After the Lantern Festival, downstream enterprises resumed production across the board. Copper prices pulled back today, prompting enterprises to replenish their stocks, and market activity increased. Today, the sentiment for copper cathode purchases in North China stood at 2.12, up by 0.16 from the previous trading day, while the sentiment for shipments was 1.96, up by 0.19 from the previous trading day ().

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