Copper prices and premiums both rose; spot trades were quiet [SMM South China spot copper]

Published: Sep 1, 2026 11:31

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SMM, September 1:

Today in Guangdong, spot prices of #1 copper cathode against the front-month contract: high-quality copper was quoted at a premium of 290 yuan/mt, up 30 yuan/mt from the previous trading day; standard-quality copper was quoted at a premium of 190 yuan/mt, up 30 yuan/mt from the previous trading day; SX-EW copper was quoted at a premium of 130 yuan/mt, up 30 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 110,260 yuan/mt, up 1,335 yuan/mt from the previous trading day, and the average price of SX-EW copper was 110,150 yuan/mt, up 1,335 yuan/mt from the previous trading day.

Spot market: Guangdong inventory has declined for 11 consecutive trading days, mainly due to reduced arrivals, with some smelters making export shipments. Inventory continued to fall to a recent low, prompting suppliers to hold prices firm. However, with copper prices rising sharply, end-users only purchased as needed, and overall trading was subdued. Today, the purchasing sentiment for copper cathode in Guangdong was 2.59, up 0.07 from the previous trading day, and the selling sentiment was 2.89, up 0.04 from the previous trading day (historical data can be queried in the database).

Overall, copper prices and premiums both rose, while spot trades were quiet.

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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