Copper prices rose today, and SHFE copper quotes may remain unchanged tomorrow.

Published: Jun 17, 2026 15:10

Save

Looking ahead to tomorrow, copper prices edged up slightly today. Although buying and selling sentiment rebounded, it remained weak overall. In the morning session, suppliers quoted from parity to a premium of 10 yuan/mt, but actual transactions were sluggish. In the second session, prices were continuously lowered to around a discount of 20 yuan/mt before deals could be concluded, reflecting downstream users' limited acceptance of current copper prices and reluctance to chase higher prices. The inter-month Contango spread widened slightly but stayed in the range of around 100 yuan/mt, with suppliers showing relatively strong willingness to hold prices firm. Close attention should be paid to warrant outflows tomorrow. If there is a concentrated release, it will put pressure on spot premiums; if outflows are limited, then, supported by the spread structure, there is limited room for the discount to widen further. Overall, amid the tug-of-war between weak demand and uncertainty over warrant outflows, Shanghai spot copper prices against the SHFE copper 2607 contract are expected to remain at current levels tomorrow.

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 for 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 Analysis] LME Copper Prices Fluctuate at Highs; Procurement Slows Across China, Japan, and South Korea

[SMM Analysis: LME Copper Prices Fluctuate at Highs; Procurement Slows Across China, Japan, and South Korea Amid Flat Market Turnover]This week, LME copper prices fluctuated at high levels. Quotations for bare bright copper held high at 98.5%–99% payability. In contrast, offers for No. 2 ccopper material scrap(Birch/Cliff) showed distinct divergence. However the global recycled raw material market currently exhibits a gridlock defined by "weak supply and demand."

Common.Time.minsAgo

Common.Time.hoursAgo

Fitzroy Reports High-Grade Copper Results in Chile

Fitzroy Minerals reported channel sampling results averaging 2.96% copper at its Buen Retiro project in Chile, with peak samples reaching 10.68% copper. The company continues drilling and advancing resource definition work.

Common.Time.hoursAgo

Great Southern Copper Starts Drilling at Artemisa Target in Chile

Great Southern Copper has commenced scout drilling at the Artemisa South copper-gold target in Chile. The company believes the area may host a large-scale porphyry copper system and is advancing exploration activities accordingly.

Common.Time.hoursAgo