Downstream primarily engaged in just-in-time procurement, and market activity remained sluggish. [SMM North China Spot Copper]

Published: Feb 26, 2026 11:29

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In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 500-420 yuan/mt, averaging a discount of 460 yuan/mt, down 30 yuan/mt from the previous trading day. Transaction prices ranged from 101,200-101,940 yuan/mt, with the average price at 101,570 yuan/mt, down 245 yuan/mt from the previous trading day.

SMM February 26 News:

Today, spot #1 copper cathode in North China was at a discount of 500-420 yuan/mt against the front-month contract, with an average discount of 460 yuan/mt, down 30 yuan/mt from the previous trading day. Transaction prices ranged from 101,200 to 101,940 yuan/mt, with an average price of 101,570 yuan/mt, down 245 yuan/mt from the previous trading day. After the holiday, some downstream enterprises were not in a hurry to resume their production pace, and coupled with the month-end period, just-in-time procurement dominated, resulting in sluggish market activity. Today, the purchase sentiment for copper cathode in North China was 1.08, up 0.01 from the previous trading day, while the shipment sentiment was 1.31, up 0.08 from the previous trading day ().

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