Copper Prices High, Downstream Secondary Copper Rod Enterprises Mainly Wait and See [SMM Secondary Copper Daily Review]

Published: Jul 27, 2026 16:04

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SMM, July 27

At 11:30 today, the copper futures closing price was 105,230 yuan/mt, up 340 yuan/mt from the previous trading day. The average spot premiums stood at 325,280 yuan/mt, down 45 yuan/mt from the previous trading day. Today, copper scrap prices remained unchanged from the previous trading day. The copper scrap selling sentiment index held steady at 2.6, while the buying sentiment index rose to 2.21. The price difference between copper cathode and copper scrap was 4,113 yuan/mt, up 295 yuan/mt from the previous trading day. The price difference between copper cathode rod and secondary copper rod was 1,230 yuan/mt. According to the SMM survey, copper prices consolidated at highs. Suppliers of copper scrap, due to active shipments earlier and low inventory, saw their selling sentiment fail to sustain last week's momentum. Meanwhile, downstream scrap utilization enterprises, with ample inventory, mainly took a wait-and-see approach in the short term and will consider resuming purchases when copper prices pull back.

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