Spot Premiums Weakened on the Last Trading Day of March [SMM North China Spot Copper]

Published: Mar 31, 2026 11:13

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Today, spot #1 copper cathode in North China was quoted at discounts of 120–60 yuan/mt against the front-month contract, with the average price down 20 yuan/mt from the previous trading day, and the average transaction price up 385 yuan/mt from the previous trading day to 95,565 yuan/mt.

SMM News, March 31:

Today, spot #1 copper cathode in North China was quoted at discounts of 120 yuan/mt to 60 yuan/mt against the front-month contract, with the average price down 20 yuan/mt from the previous trading day. The average transaction price was 95,565 yuan/mt, up 385 yuan/mt from the previous trading day. On the last trading day of March, downstream players faced capital pressure while upstream players had shipment needs, and spot premiums came under pressure. Today, the procurement sentiment for copper cathode in North China was 2.11, down 0.02 from the previous trading day, while shipment sentiment was 2.32, up 0.13 from the previous trading day ().

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