Premiums and copper prices both decline, downstream procurement volume increases [SMM South China Spot Copper]

Published: Aug 10, 2026 11:46

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SMM August 10 News:

Today, Guangdong #1 copper cathode spot prices against the front-month contract: high-quality copper was at a premium of 100 yuan/mt, down 60 yuan/mt from the previous trading day; standard-quality copper was at parity, down 60 yuan/mt from the previous trading day; SX-EW copper was at parity, down 60 yuan/mt from the previous trading day. Guangdong #1 copper cathode average price was 107,945 yuan/mt, down 410 yuan/mt from the previous trading day, and SX-EW copper average price was 107,835 yuan/mt, down 410 yuan/mt from the previous trading day.

Spot market: After the weekend, Guangdong's inventories edged up, mainly due to increased arrivals of imported copper. The inventory increase put greater pressure on some suppliers to sell, and they actively lowered prices to sell, causing spot premiums to drop significantly. Copper prices and premiums both decreased. Downstream users' purchasing enthusiasm increased compared to last Friday, and overall trading sentiment improved slightly. Today, Guangdong's copper cathode purchasing sentiment was 2.35, up 0.07 from the previous trading day, and selling sentiment was 2.88, up 0.03 from the previous trading day (historical data can be queried by logging into the database).

Overall, premiums and copper prices both decreased, downstream procurement volume increased, and overall trading improved.

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.

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