Downstream restocking and cargo pick-up, market supply decreases [SMM North China Spot Copper]

Published: Jun 16, 2026 11:50

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Today in North China, spot #1 copper cathode prices against the front-month contract were reported at discounts of 190–130 yuan/mt, with the average discount at 160 yuan/mt, up 10 yuan/mt from the previous trading day. The average transaction price stood at 104,580 yuan/mt, down 1,025 yuan/mt from the previous trading day.

SMM, June 16:

Today, spot #1 copper cathode in North China against the front-month contract was reported at an average discount of 190 yuan/mt to 130 yuan/mt, with an average discount of 160 yuan/mt, up 10 yuan/mt from the previous trading day. The average transaction price was 104,580 yuan/mt, down 1,025 yuan/mt from the previous trading day. As downstream players restocked this week, concentrated deliveries under long-term contracts reduced market supply, giving suppliers the leverage to hold prices firm. Today, purchasing sentiment for copper cathode in North China was 2.08, up 0.07 from the previous trading day, while shipment sentiment was 1.67, up 0.02 from the previous trading day ().

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