Copper Prices Stay High, End-Users Forced to Restock [SMM Secondary Copper Daily Review]

Published: Oct 14, 2026 16:12 (GMT+8)

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SMM October 14

At 11:30 today, futures closing price was 111,750 yuan/mt, up 250 yuan/mt from the previous trading day. Spot premiums averaged -50 yuan/mt, down 70 yuan/mt MoM from the previous trading day. Today, secondary copper prices remained unchanged MoM. Secondary copper sales sentiment index rose to 2.6, and purchasing sentiment index rose to 2.11. The price difference between copper cathode and copper scrap was 3,704 yuan/mt, up 230 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,000 yuan/mt. According to SMM survey, copper prices lacked upward momentum. Many secondary copper rod enterprises kept their purchase prices unchanged in recent days. Secondary copper traders sold the rally, and some settled the price of stored secondary copper. Secondary copper prices stayed high. End-user restocking demand increased, and the secondary copper market transactions recovered somewhat.

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