Suppliers Adapt to Policy Implementation Process, Short-Term Impact on Supply of Secondary Copper Raw Material [SMM Daily Review of Secondary Copper]

Published: Jun 5, 2025 13:06

Save

》Check SMM copper quotes, data, and market analysis

》Subscribe to view historical price trends of SMM metal spot cargo

SMM June 5

At 11:30 today, the futures closing price was 78,250 yuan/mt, down 170 yuan/mt from the previous trading day. The average spot premiums/discounts were 90 yuan/mt, down 40 yuan/mt from the previous trading day. Today, the price of secondary copper raw material remained unchanged MoM. The price of bare bright copper in Guangdong was 72,400-72,600 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 1,212 yuan/mt, down 210 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,015 yuan/mt. According to the SMM survey, suppliers of secondary copper raw material have gradually received notifications from copper rod enterprises regarding the implementation of "reverse invoicing". However, suppliers have not yet adapted to the specific procedures and still require a transition period before they are willing to resume normal supply volumes of secondary copper raw material.

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

14 hours ago

Tax-Inclusive Procurement Costs for Copper Scrap Rose, and "Reverse Invoicing" Became a Key Compliance Pathway

Looking back at 2025, as the transitional implementation year for the "reverse invoicing" policy, the National Development and Reform Commission's "Document No. 770" explicitly required the termination of local governments' non-compliant investment promotion cooperation. Under the policy guidance of building a unified national market, the copper scrap industry has been gradually moving toward a standardized and compliant development track.

14 hours ago

Mar 28, 2026 11:05

CMOC: 2025 Net Profit up 50.3% YoY, Copper Production at 741,100 mt; Niobium, Cobalt, Molybdenum, and Tungsten Output Exceeded Expectations

Mar 28, 2026 11:05

Mar 27, 2026 17:05

INE to Expand Tradable Options for Qualified Foreign Investors, Adding TSR 20 Rubber and Copper Contracts

According to an announcement by the Shanghai International Energy Exchange, with the approval of the China Securities Regulatory Commission, effective April 22, 2026 (from the night continuous trading session on April 21), the Shanghai International Energy Exchange (hereinafter referred to as INE) will further expand the range of tradable products available to Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (collectively, Qualified Foreign Investors), with the newly added commodity options contracts open for trading as follows: TSR 20 rubber and international copper options contracts.

Mar 27, 2026 17:05