Pre-Holiday Stockpiling Demand Was Lackluster, Spot Market Activity Was Sluggish [SMM North China Spot Copper]

Published: Apr 29, 2026 11:36

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Today, #1 copper cathode spot prices in North China against the front-month contract were reported at a discount of 180 yuan/mt to a discount of 100 yuan/mt, with an average discount of 140 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 101,375 yuan/mt, down 475 yuan/mt from the previous trading day.

SMM April 29:

In north China, #1 copper cathode spot prices against the front-month contract were reported at a discount of 180 yuan/mt to a discount of 100 yuan/mt, with the average discount of 140 yuan/mt up 20 yuan/mt from the previous trading day. The average transaction price was 101,375 yuan/mt, down 475 yuan/mt from the previous trading day. With the Labour Day holiday approaching and mediocre consumption leading to lukewarm pre-holiday stockpiling demand from downstream buyers, some cargoes were shipped to east China, and the north China spot market remained sluggish. The procurement sentiment for copper cathode in north China was 1.85, up 0.19 from the previous trading day, while the shipment sentiment was 2.01, down 0.07 from the previous trading day ().

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