Spot supply was limited, and suppliers insisted on selling at high premiums [SMM South China spot copper]

Published: Sep 21, 2026 11:22

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SMM, September 21:

Today in Guangdong, spot prices of #1 copper cathode against the front-month contract: high-quality copper was quoted at a premium of 900 yuan/mt, unchanged from the previous trading day; standard-quality copper was quoted at a premium of 700 yuan/mt, unchanged from the previous trading day; SX-EW copper was quoted at a premium of 640 yuan/mt, unchanged from the previous trading day. The average price of #1 copper cathode in Guangdong was 110,775 yuan/mt, up 520 yuan/mt from the previous trading day, while the average price of SX-EW copper was 110,615 yuan/mt, up 520 yuan/mt from the previous trading day.

Spot market: Guangdong inventory edged up today as arrivals increased slightly. Despite the increase in inventory, overall stocks remained low, and suppliers were unwilling to cut prices to sell, holding firm at a premium of 700 yuan/mt. Downstream users had no choice but to accept the tight supply situation, and overall trading was not active. Today, the purchasing sentiment for copper cathode in Guangdong was 2.65, up 0.04 from the previous trading day, while the selling sentiment was 2.68, down 0.02 from the previous trading day (historical data can be queried in the database).

Overall, available supply in the market was limited, and suppliers held firm on high premiums to sell, leaving spot trades 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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