Copper Prices Stabilize at Highs, Market Trading Remains Mediocre [SMM Secondary Copper Daily Review]

Published: Aug 28, 2026 13:05

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SMM Aug 28

At 11:30 today, the futures closing price was 109,200 yuan/mt, up 230 yuan/mt from the previous trading day. The average spot premiums were 535 yuan/mt, up 85 yuan/mt MoM from the previous trading day. Today, copper scrap prices remained unchanged MoM. The copper scrap selling sentiment index fell to 2.81, and the procurement sentiment index fell to 1.73. The price difference between copper cathode and copper scrap was 5,159 yuan/mt, up 315 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,870 yuan/mt. According to the SMM survey, the center of copper prices moved up again. With the weekend approaching, secondary copper rod enterprises said that current orders were mainly driven by traders’ hedging procurement. Amid end-users’ fear of high prices among wire and cable enterprises, procurement volume was extremely limited, and intraday secondary copper rod transactions were mediocre.

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