Suppliers’ Strong Willingness to Hold Prices Firm, Spot Discounts in North China Rose Significantly during the Week [SMM North China Spot Copper Cathode Weekly Review]

Published: Jul 9, 2026 14:23

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In North China, as of this Thursday, discounts of 60 yuan/mt to premiums of 20 yuan/mt were quoted, with an average discount of 20 yuan/mt, up 100 yuan/mt compared to last Friday. This week, futures moved sideways, and downstream purchasing sentiment was dominated by a wait-and-see attitude, with only just-in-time procurement maintained. Available spot cargo was relatively tight, and coupled with broadly higher spot prices across regions, suppliers held firm in their stance to hold prices firm, and their willingness to sell at low prices was weak, continuously pushing spot discounts to narrow. Overall, market trading this week delivered a mediocre performance, with weak trading activity. Looking ahead, short-term end-use demand is unlikely to see significant improvement, with just-in-time procurement still dominant, and suppliers are expected to maintain their firm stance. North China spot discounts are anticipated to hold up well.

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