Weak Supply and Demand in the Market, Sluggish Spot Trading Activity [SMM North China Spot Copper]

Published: Apr 27, 2026 11:17

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Today, #1 copper cathode spot prices in North China against the front-month contract were reported at an average of a discount of 200 yuan/mt to a discount of 100 yuan/mt, with the average price up 30 yuan/mt from the previous trading day. The average transaction price was 102,840 yuan/mt, up 515 yuan/mt from the previous trading day.

SMM April 27 update:

Spot #1 copper cathode prices against the front-month contract in north China were reported at a discount of 200 yuan/mt to a discount of 100 yuan/mt, with the average price up 30 yuan/mt from the previous trading day. The average transaction price was 102,840 yuan/mt, up 515 yuan/mt from the previous trading day. Consumption in the north has been lackluster recently, while some copper cathode shipments were directed to east China. Both supply and demand in the north China spot market were weak, and trading activity was sluggish. The purchasing sentiment for copper cathode in north China was 1.52, up 0.01 from the previous trading day, while the shipment sentiment was 1.72, down 0.83 from the previous trading day ().

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