Peak season arrival and rising copper prices stimulate stockpiling sentiment among scrap utilization enterprises [SMM Secondary Copper Daily Review]

Published: Sep 1, 2026 15:12

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SMM September 1

At 11:30 today, the futures closing price was 109,880 yuan/mt, up 730 yuan/mt from the previous trading day. The average spot premium was 495 yuan/mt, down 115 yuan/mt MoM from the previous trading day. Today, secondary copper prices rose 600 yuan/mt MoM. The secondary copper sales sentiment index rose to 2.92, and the purchasing sentiment index rose to 1.73. The price difference between copper cathode and copper scrap was 4,204 yuan/mt, down 1,206 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 2,100 yuan/mt. According to the SMM survey, copper prices quickly pulled back after breaking through 110,000 yuan/mt. With the traditional peak season arriving in September, many secondary copper rod enterprises saw increased demand for raw material stockpiling. Meanwhile, after copper prices rose, many secondary copper traders sold off their copper scrap holdings. With sentiment warming among both sellers and buyers, secondary copper transactions were relatively active during the day.

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