Futures consolidate and stabilize; discounts in North China continue to decline [SMM North China spot copper]

Published: Oct 13, 2026 11:18 (GMT+8)

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In North China today, spot #1 copper cathode was quoted at a discount of 400-220 yuan/mt against the front-month contract, with an average discount of 310 yuan/mt, down 145 yuan/mt from the previous trading day. The average transaction price was 111,060 yuan/mt, down 530 yuan/mt from the previous trading day.

SMM, October 13:

Today in North China, spot #1 copper cathode against the front-month contract was quoted at a discount of 400 to 220 yuan/mt, with an average discount of 310 yuan/mt, down 145 yuan/mt from the previous trading day. The average transaction price was 111,060 yuan/mt, down 530 yuan/mt from the previous trading day. Futures remained stable, and with contract rollover approaching, the price spread between futures contracts stayed wide. Suppliers showed strong willingness to sell, actively cutting prices to move shipments. Downstream inquiries were generally limited, with only a small amount of rigid demand transactions in the market, pushing spot discounts in North China deeper. Today, the procurement sentiment for copper cathode in North China was 1.77, up 0.74 from the previous trading day, while the shipment sentiment was 2.85, up 0.41 from the previous trading day. ().

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