China Copper Concentrates Coefficient Rises MoM on July 10, 2026

[SMM Brass Billet Flash] Looking ahead to next week (July 10–16), end-use demand in the off-season is unlikely to see a significant recovery, and the situation where high-priced raw materials constrain production remains unchanged. SMM expects the operating rate of the copper billet industry to pull back slightly to 49.58%, with the low-level operating trend continuing.

【SMM Copper Cathode Rod Flash】 This week, copper cathode rod enterprises saw simultaneous increases in inventory. Affected by the No. 9 super typhoon "Bavi" and the approaching weekend, manufacturers concentrated on picking up goods for stockpiling on Thursday, with raw material inventory up WoW. Downstream demand was weak and the pace of finished product pickups slowed, resulting in some inventory buildup in finished goods, presenting a dual inventory buildup scenario for both raw materials and finished products.