End-user trading is sluggish, spot price spread weakens [SMM North China spot copper]

Published: Aug 24, 2026 11:19

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Today in North China, #1 copper cathode spot prices against the front-month contract were quoted at a discount of 70 yuan/mt to a premium of 80 yuan/mt, with the average premium at 5 yuan/mt, down 60 yuan/mt from the previous trading day. The average transaction price was 107,760 yuan/mt, up 120 yuan/mt from the previous trading day;

SMM August 24 news:

In North China today, spot prices of #1 copper cathode against the front-month contract were reported at a discount of 70 yuan/mt to a premium of 80 yuan/mt, with an average premium of 5 yuan/mt, down 60 yuan/mt from the previous trading day. The average transaction price was 107,760 yuan/mt, up 120 yuan/mt from the previous trading day. Futures stayed high, and overall demand from end-users was sluggish, with only just-in-time procurement in the market. Suppliers' willingness to sell continued to rise, but downstream purchases remained weak, leading to sluggish overall transactions, which further dragged down spot copper premiums in North China. Today, the procurement sentiment for copper cathode in North China stood at 1.17, down 0.02 from the previous trading day, while the shipment sentiment stood at 2.76, up 0.03 from the previous trading day. ().

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