SMM July 21
At 11:30 today, the futures closing price was 104,930 yuan/mt, up 750 yuan/mt from the previous trading day. The average spot premiums were 470 yuan/mt, up 35 yuan/mt from the previous trading day. Today, the price of copper scrap rose 200 yuan/mt from the previous trading day. The copper scrap sales sentiment index rose to 2.53, while the purchase sentiment index remained flat at 2.29. The price difference between copper cathode and copper scrap was 3,745 yuan/mt, up 527 yuan/mt from the previous trading day. The price difference between copper cathode rod and secondary copper rod was 1,590 yuan/mt. According to an SMM survey, copper prices extended yesterday’s gains, and the cathode-scrap price spread continued to widen. Although copper scrap suppliers were active in selling, secondary copper rod enterprises currently have relatively ample raw material inventories, so their intraday purchase willingness remained flat from yesterday.
![Diverging African Supply: June China Copper Anode Imports Recover, Q3 Maintenance May Weigh on Imports [SMM Analysis]](https://imgqn.smm.cn/usercenter/Bwtty20251217171714.jpeg)
![Supply deficit continues to materialize, and imported copper premiums keep hitting new highs for the year [SMM Yangshan Spot Copper]](https://imgqn.smm.cn/usercenter/tXxfd20251217171713.jpg)
