Market Demand Improved, Spot Premiums Rose [SMM North China Spot Copper]

Published: Mar 4, 2026 11:23

Save

Today, spot #1 copper cathode in North China traded at a discount of 350–250 yuan/mt against the front-month contract, up 80 yuan/mt from the previous trading day. The average transaction price was 101,340 yuan/mt, down 180 yuan/mt from the previous trading day.

SMM March 4 News:

Today, in North China, spot #1 copper cathode prices against the front-month contract were at a discount of 350–250 yuan/mt, up 80 yuan/mt from the previous trading day, while the average transaction price was 101,340 yuan/mt, down 180 yuan/mt from the previous trading day. As copper prices pulled back, consumption demand improved. Meanwhile, secondary copper rod operating remained weak, and with enterprises resuming production after the holiday, the operating rate of copper cathode rod enterprises rose. With market demand increasing, spot premiums moved higher. Today, in North China, copper cathode purchasing sentiment was 2.85, up 0.73 from the previous trading day, while shipments sentiment was 2.52, up 0.56 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

SMM: Domestic Wire and Cable Production to Surge 13.83% in March Amid Post-Festival Recovery

[SMM Copper Flash] SMM expects that in March, the operating rate of domestic wire and cable enterprises is expected to increase 13.83 percentage points MoM to 69.44%. This is mainly because after the Lantern Festival, end-use industries have gradually resumed production, and orders are expected to be further released, supporting enterprises’ production schedules. In addition, after excluding holiday impacts, wire and cable enterprises are expected to gradually return to a normal production pace in March.

Common.Time.minsAgo

Domestic Wire and Cable Firms See Raw Material Inventory Days Rise in February Amid Post-Holiday Resumption

[SMM Copper Flash] Regarding the inventory performance of domestic wire and cable enterprises in February, days of raw material inventories increased 1.11 days MoM, mainly because as enterprises advanced their work resumption and production resumptions, they gradually began purchasing raw materials for subsequent production. Days of raw material inventories increased 0.46 days MoM, mainly because end-users were on holiday during the Chinese New Year, and pick up goods was relatively slow.

Common.Time.minsAgo

Copper Wire and Cable Production Drops 14.29% in February Amid Chinese New Year Holiday

[SMM Copper Flash] In February, the operating rate of copper wire and cable enterprises came in at 55.81%, down 14.29 percentage points MoM, mainly due to the Chinese New Year holiday. During the holiday, wire and cable enterprises took about 11 days off on average. By sector, orders from the power sector were strong with production schedules concentrated, while engineering-related orders were relatively weak, showing clear divergence in end-use sector orders.

Common.Time.minsAgo