Copper prices break through the 110,000 mark, downstream wait-and-see sentiment strong, spot trades sluggish [SMM South China spot copper]

Published: Sep 8, 2026 11:58

Save

SMM, September 8:

Today in Guangdong, spot prices of #1 copper cathode against the front-month contract: high-quality copper was quoted at a premium of 250 yuan/mt, down 30 yuan/mt from the previous trading day; standard-quality copper was quoted at a premium of 150 yuan/mt, down 50 yuan/mt from the previous trading day; SX-EW copper was quoted at a premium of 90 yuan/mt, down 50 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 111,310 yuan/mt, up 1,355 yuan/mt from the previous trading day, and the average price of SX-EW copper was 111,200 yuan/mt, up 1,345 yuan/mt from the previous trading day.

Spot market: Guangdong inventory increased sharply for two consecutive days, mainly due to increased arrivals of imported copper. In early trading, suppliers initially intended to hold prices firm, with standard-quality copper quoted at a premium of 220 yuan/mt, but copper prices rose sharply and inventory also increased, leaving few downstream buyers. Suppliers had to lower premiums to sell. Today, the purchasing sentiment for copper cathode in Guangdong was 2.51, down 0.28 from the previous trading day, while the selling sentiment was 2.89, up 0.02 from the previous trading day (historical data can be accessed via the database).

Overall, with copper prices breaking above the 110,000 mark, downstream wait-and-see sentiment was strong, and spot trades were sluggish.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

Ventec Invests $47.3M in Kunshan Factory Expansion for CCL Production Boost

Taiwan copper-clad laminate (CCL) maker Ventec International Group (6672.TW) approved on September 17 a NT$1.5 billion (approximately US$47.3 million) expansion budget to lease and upgrade an idle factory in Kunshan, Jiangsu, deploying two automated lines targeting monthly capacity of 500,000 CCL sheets and 2.4 million meters of prepreg. The 20,000 square meter site sits next to the company's existing operations and benefits from existing environmental permits, allowing mass production roughly one year earlier than a greenfield project. Planned spending is about RMB 41.76 million for building upgrades and RMB 246 million for machinery and equipment. The product mix covers M6 high-speed materials ramping up, with M7/M8/M9 grades under qualification with international server and optical-module customers. Ventec reported record August consolidated revenue of NT$810 million, up 133.2% year on year, with the first eight months up 53.6%. The Kunshan plant will complement the company's Thailand facility and serve AI servers, high-speed switches, optical modules and automotive electronics, lifting demand for upstream copper foil and electrolytic copper foil.

5 hours ago

6 hours ago

Copper Scrap Market Sees Sharp Adjustments as Prices Fall, Supply Constraints Persist

This week (Sep 14-Sep 17), the copper scrap market underwent sharp adjustments after copper prices pulled back significantly from last week's high above 112,000 yuan/mt, bottoming out at 108,370 yuan/mt by the weekend. The most-traded SHFE copper contract continued to slide from 108,240 yuan/mt at the start of the week to an intraweek low of 107,320 yuan/mt.

6 hours ago

7 hours ago

[SMM Analysis] Detailed Data on China's Sulphuric Acid Production in August

NBS data shows that China's sulphuric acid (100% equivalent) production in August was 7.984 million mt, down 308,000 mt from 7.676 million mt in July, a YoY decline of 15.5%. The cumulative production of sulphuric acid (100% equivalent) in 2026 was 68.141 million mt, a cumulative YoY decline of 4.6%.

7 hours ago