Both inventory and copper prices declined, and suppliers held prices firm to sell [SMM South China Spot Copper]

Published: Jul 8, 2026 11:32

Save

SMM, July 8:

Today, Guangdong #1 copper cathode spot premiums against the front-month contract: high-quality copper quoted at a premium of 90 yuan/mt, up 10 yuan/mt from the previous trading day; standard-quality copper quoted at a premium of 20 yuan/mt, up 10 yuan/mt; SX-EW copper quoted at a discount of 50 yuan/mt, up 10 yuan/mt. The average price of Guangdong #1 copper cathode was 102,905 yuan/mt, down 240 yuan/mt from the previous trading day, and the average price of SX-EW copper was 102,800 yuan/mt, down 240 yuan/mt.

Spot market: Guangdong inventory declined for the fifth consecutive day, primarily due to persistently low arrivals. With both copper prices and inventory falling, suppliers held prices firm, and spot premiums edged up 10 yuan/mt from yesterday. Downstream buyers also took advantage of lower prices to restock moderately, with overall trading slightly better than yesterday. The copper cathode purchasing sentiment in Guangdong today stood at 2.65, up 0.06 from the previous trading day, while selling sentiment was 2.86, down 0.06 (historical data can be queried via the database).

Overall, with inventory and copper prices both declining, suppliers held prices firm and sold, pushing spot premiums higher.

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