The price spread between futures contracts remains persistently weak, spot discounts continue to widen [SMM North China spot copper]

Published: Aug 11, 2026 11:20

Save

In North China, spot #1 copper cathode against the front-month contract was quoted at a discount range of 280-220 yuan/mt, averaging a discount of 255 yuan/mt, down 50 yuan/mt from the previous trading day; the average transaction price was 108,300 yuan/mt, up 640 yuan/mt from the previous trading day;

SMM, August 11:

On August 11, spot #1 copper cathode in North China against the front-month contract was quoted at average discounts of 280-220 yuan/mt, with the average discount at 255 yuan/mt, down 50 yuan/mt from the previous trading day; and the average transaction price was 108,300 yuan/mt, up 640 yuan/mt from the previous trading day. The futures market shot up again, coupled with a weak price spread structure among futures contracts. Downstream purchase willingness remained sluggish, with purchases nearly stagnant. Suppliers' willingness to sell stayed high, and they actively lowered quotes to facilitate transactions. However, end-user buying interest was insufficient, market transactions were sparse, and North China spot discounts continued to widen. The purchase sentiment for copper cathode in North China was 1.01, unchanged from the previous trading day, and the selling sentiment was 2.99, also unchanged. ().

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 mins ago

PT Smelting Gresik Sudden Accident! [SMM Analysis]

[PT Smelting Gresik Incident!] The converter at PT Smelting Gresik experienced a molten material leak accident, and repairs are expected to take at least several weeks. Affected by low anode inventory, the smelting suspension has impacted copper cathode production. Copper cathode shipments will be suspended in the coming weeks, and the plant is negotiating with clients for delayed deliveries. The plant has a copper cathode capacity of 342,000 mt/year and a smelting capacity for copper concentrates of about 1.3 million dmt/year.

18 mins ago

30 mins ago

[SMM Tin Flash: Announcement on Approving Minmetals Wuxi Logistics Park Co., Ltd. to Adjust the Approved Storage Capacity of Copper, Tin, and Stainless Steel Futures Delivery Warehouses]

In accordance with the Measures for the Administration of Delivery Warehouses of Shanghai Futures Exchange and other relevant regulations, it is hereby decided that: 1. Approve the reduction of the approved storage capacity of copper futures at the storage location of Minmetals Wuxi Logistics Park Co., Ltd. at No. 1 Tangang Road, Huishan District, Wuxi City, Jiangsu Province, from 20,000 mt to 15,000 mt; the approved storage capacity of tin futures from 2,000 mt to 1,000 mt; and the approved storage capacity of stainless steel futures from 70,000 mt to 60,000 mt. 2. Approve the storage location of Minmetals Wuxi Logistics Park Co., Ltd. at No. 8 Xinsha Road, Machong Town, Dongguan City, Guangdong Province, to become a delivery warehouse storage location for copper futures, with an approved storage capacity of 5,000 mt and no regional premium. All relevant entities shall attach great importance and effectively carry out all tasks to ensure the normal and orderly progress of delivery operations. Hereby announce. Shanghai Futures Exchange August 10, 2026

30 mins ago

1 hour ago

Sunlite Recycling Copper Volumes Rise 15% as Wire Rod Capacity Expansion Advances

Sunlite Recycling reported 5,743 tonnes of copper recycling sales volume in Q1 FY27, up 15.43% YoY, while copper-segment revenue increased 72.91%. The company is also progressing a ₹370 million capex program that will raise its copper wire rod capacity to 45,000 t/y by Q1 FY28.

1 hour ago