Long-term contract delivery is dominant, spot market activity is sluggish [SMM North China Spot Copper]

Published: Jun 17, 2026 11:17

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Spot #1 copper cathode in North China was quoted at a discount of 200-140 yuan/mt against the front-month contract, with an average discount of 170 yuan/mt, down 10 yuan/mt from the previous trading day. The average transaction price was 105,155 yuan/mt, up 575 yuan/mt from the previous trading day.

SMM June 17 News:

Today, spot #1 copper cathode in North China against the front-month contract was quoted at an average discount of 200 yuan/mt to 140 yuan/mt, with an average discount of 170 yuan/mt, down 10 yuan/mt from the previous trading day. The transaction price averaged 105,155 yuan/mt, up 575 yuan/mt from the previous trading day. Copper prices rebounded, weakening downstream buying interest. During the week, upstream deliveries of long-term contracts kept inventory low. Today, the market remained dominated by long-term contract execution, and spot market activity was relatively low. Today, the purchasing sentiment for copper cathode in North China was 2.01, down 0.07 from the previous trading day, and the shipments sentiment was 1.68, up 0.01 from the previous trading day ().

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