After the contract rollover, downstream inquiries were sluggish, and holding prices firm pushed up North China spot copper premiums [SMM North China Spot Copper]

Published: Jul 16, 2026 11:40

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In North China, spot #1 copper cathode against the front-month contract was quoted at premiums of 100-140 yuan/mt, averaging 120 yuan/mt (up 260 yuan/mt from the previous trading day), and the average transaction price was 104,350 yuan/mt (down 675 yuan/mt from the previous trading day).

SMM, July 16:

Today, in North China, spot #1 copper cathode against the front-month contract was quoted at premiums ranging from 100 yuan/mt to 140 yuan/mt, with an average premium of 120 yuan/mt, up 260 yuan/mt from the previous trading day, while the average transaction price stood at 104,350 yuan/mt, down 675 yuan/mt from the previous trading day. The futures market pulled back. Following the contract rollover, affected by the current price spread between futures contracts, downstream inquiries were sparse and purchase willingness remained subdued; suppliers' willingness to sell weakened, while the sentiment to hold prices firm rebounded. Overall market trading was still sluggish, driving spot premiums in North China higher. Today, the purchase sentiment for copper cathode in North China was 1.74, down 0.01 from the previous trading day, and the shipment sentiment was 2.55, down 0.03 ().

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