Off-Season End-User Purchases Weak, Trading Remains Sluggish at High Copper Prices [SMM North China Spot Copper Cathode Weekly Review]

Published: Jul 30, 2026 18:06

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In North China, as of this Thursday, spot premiums stood at 40-140 yuan/mt, with an average discount of 90 yuan/mt, down 15 yuan/mt from last Thursday. The market was in the traditional demand off-season, downstream procurement remained generally weak, end-user inquiries were scarce, and only sporadic rigid demand deals were concluded. Suppliers' willingness to sell pulled back toward the week's end, and a mentality of holding prices firm emerged. Overall, spot trades stayed sluggish this week, with a weak trading atmosphere. Looking ahead, the off-season pattern is unlikely to reverse in the short term, end-user procurement intensity will stay low, and spot trading activity in North China is expected to remain weak.

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