Pre-holiday restocking willingness not strong, spot trades moderate [SMM South China Spot Copper]

Published: Jun 17, 2026 11:30

Save

SMM June 17 news:

Today, spot Guangdong #1 copper cathode against the front-month contract: high-quality copper was quoted at a premium of 210 yuan/mt, flat with the previous trading day; standard-quality copper was quoted at a premium of 150 yuan/mt, flat with the previous trading day; and SX-EW copper was quoted at a premium of 90 yuan/mt, flat with the previous trading day. The average price of Guangdong #1 copper cathode was 105,500 yuan/mt, up 565 yuan/mt from the previous trading day, and the average price of SX-EW copper was 105,410 yuan/mt, up 565 yuan/mt from the previous trading day.

Spot market: Guangdong inventory, after two consecutive increases, finally declined today, mainly due to reduced arrivals and increased shipments. As copper prices rebounded today and some downstream producers had production cuts during the Dragon Boat Festival, their pre-holiday restocking interest was not strong. Suppliers could only maintain yesterday's quotes to sell, but transactions were poor. Today, the purchasing sentiment for copper cathode in Guangdong stood at 2.21, down 0.07 from the previous trading day, while the selling sentiment stood at 2.55, up 0.1 from the previous trading day (historical data can be accessed by logging into the database).

Overall, pre-holiday restocking interest was not strong, spot trades were moderate, and no improvement is expected tomorrow.

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 for 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

22 hours ago

Aurubis Launches €190M CRH Facility in Hamburg for Advanced Metal Recycling

Aurubis commissioned the "Complex Recycling Hamburg (CRH)" I at its Hamburg site, a world-first facility with an investment of 190 million euros aimed at strengthening Europe's strategic metal recycling capabilities. The plant can process copper, lead, and sulfur simultaneously in a single production unit.

22 hours ago

KGHM Commits $8.55B to New Strategy, Targets Increased Copper and Silver Production by 2030

Poland's copper and silver producer KGHM adopted a new strategy on Friday, committing to invest more than 32 billion zloty ($8.55 billion) by 2030 while setting new production and profit targets.The plan, called "Strategy 2055+", targets payable copper production of 730,000 mt and silver production of 1,290 mt from 2026 to 2030.The company's chief executive officer, Remigiusz Paszkiewicz, said, "After 2035, we hope KGHM becomes a modern, multi-raw-material industrial group."He added that the company plans to build a new mine called "KGHM2.0" in Poland.

22 hours ago

Antofagasta Plans Q4 Environmental Application for Copper Exploration Expansion in Chile

An internal company document shows that Chilean copper miner Antofagasta plans to submit an environmental application in Q4 this year to expand exploration activities at its Encierro and Volcanes projects.The move marks an important step forward for two of Antofagasta’s long-term copper growth options. Currently, major global miners are racing to replenish their copper project pipelines, while in Chile, the top copper-producing country, they face challenges including permitting processes, water restrictions, and aging deposits.

22 hours ago