Copper Prices Pull Back, Copper Scrap Traders Hold Back From Selling [SMM Secondary Copper Daily Review]

Published: Sep 2, 2026 14:55

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SMM September 2

At 11:30 today, futures closing price was 108,440 yuan/mt, down 1,440 yuan/mt from the previous trading day. Spot premiums averaged 375 yuan/mt, down 120 yuan/mt MoM from the previous trading day. Secondary copper prices fell 600 yuan/mt MoM today. The secondary copper sales sentiment index dropped to 2.84, while the purchasing sentiment index rose to 1.79. The price difference between copper cathode and copper scrap was 3,329 yuan/mt, down 875 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,350 yuan/mt. According to SMM survey, copper prices retreated after a rapid rise. In the short term, secondary copper suppliers held back from selling. Although secondary copper rod enterprises wanted to take advantage of the low prices to purchase copper scrap, suppliers were unwilling to sell their inventory at a discount, so market trading activity declined significantly.

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