Copper Prices Shot Up; Scrap Utilization Enterprises Purchased Cautiously [SMM Secondary Copper Daily Review]

Published: Sep 21, 2026 16:37

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SMM September 21

At 11:30 today, futures closing price was 109,960 yuan/mt, up 460 yuan/mt from the previous trading day. Spot premiums averaged 825 yuan/mt, up 90 yuan/mt MoM from the previous trading day. Today, secondary copper raw material prices rose 300 yuan/mt MoM. The secondary copper raw material sales sentiment index remained flat at 2.71, while the purchasing sentiment index fell to 1.89. The price difference between copper cathode and copper scrap was 3,141 yuan/mt, up 205 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 2,090 yuan/mt. According to SMM survey, due to policy changes and the approaching long holiday, many secondary copper rod enterprises need to begin raw material stocking. However, with copper prices breaking through 110,000 yuan again, scrap utilization enterprises had to purchase cautiously, preferring to wait for copper prices to pull back slightly before starting raw material stocking.

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