The Last Trading Week Before the Holiday, the Spot Market Tends to Cool Down [SMM North China Spot Copper]

Published: Feb 9, 2026 11:18

Save

SMM February 9:

In North China today, spot #1 copper cathode prices against the front-month contract were at a discount of 320-160 yuan/mt, with an average discount of 240 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 101,030-101,530 yuan/mt, with an average of 101,280 yuan/mt, up 1,955 yuan/mt from the previous trading day. As the market entered the last trading week before the Chinese New Year, most enterprises had completed stockpiling. Additionally, with copper prices rising today and logistics being relatively tight, market transactions were sluggish. In North China today, the procurement sentiment for copper cathode was 1.78, down 0.69 from the previous trading day, while the shipment sentiment was 1.55, down 0.11 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 to learn 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

Copper Inventories in Major Domestic Regions Continued to Build Up Over the Weekend [SMM Weekly Data]

Common.Time.minsAgo

1 hour ago

Copper Prices Edge Up, Spot Premiums/Discounts Face Downward Pressure Amid Sluggish Demand

Looking ahead to tomorrow, spot premiums/discounts are expected to face downward pressure. During the day, copper prices rose slightly, dampening downstream demand, and actual market transactions were sluggish; coupled with some suppliers offloading cargo, spot premiums/discounts dropped slightly. Supply side, some price-ratio locked cargoes due to earlier import arbitrage opportunities have arrived at ports and entered circulation, and attention should be paid to subsequent cargo arrivals. Short-term spot supply is expected to gradually increase. Demand side, as some downstream enterprises enter the holiday period and most top-tier enterprises have completed pre-holiday stockpiling, actual procurement demand shows a weakening trend.

1 hour ago

Common.Time.hoursAgo

Some Downstream Enterprises on Holiday, Trading in SHFE Copper Spot Market Sluggish [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Tomorrow, spot premiums and discounts are expected to face downward pressure. During the day, copper prices rose slightly, suppressing downstream demand, and actual market transactions were sluggish; coupled with some suppliers offloading cargo, spot premiums and discounts dropped slightly. Supply side, some price-ratio locked cargoes due to earlier import arbitrage opportunities have arrived at ports for circulation, and subsequent arrivals need to be monitored. Short-term spot supply is expected to gradually increase. Demand side, as some downstream enterprises enter holidays and most top-tier enterprises have completed pre-holiday stockpiling, actual procurement demand shows a weakening trend.

Common.Time.hoursAgo