Market Trading Activity Increased After Contract Rollover, Premiums Expected to Rise Further Tomorrow [SMM South China Spot Copper]

Published: Apr 16, 2026 11:46

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SMM April 16 News:

Today, Guangdong #1 copper cathode spot prices against the front-month contract: high-quality copper was quoted at a premium of 210 yuan/mt, down 30 yuan/mt from the previous trading day; standard-quality copper was quoted at a premium of 130 yuan/mt, down 30 yuan/mt from the previous trading day; SX-EW copper was quoted at a premium of 80 yuan/mt, down 20 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 102,545 yuan/mt, down 360 yuan/mt from the previous trading day; the average price of SX-EW copper was 102,455 yuan/mt, down 350 yuan/mt from the previous trading day.

Spot market: Guangdong inventory has now declined for 22 consecutive trading days, with tight supply being the main reason. Copper prices pulled back slightly and the contract rollover has already taken place. Downstream restocking appetite increased compared to yesterday, and suppliers held prices firm accordingly. Today, standard-quality copper was quoted at a premium of 130 yuan/mt, up 30 yuan/mt from yesterday, compared to 100 yuan/mt quoted against the next-month contract yesterday. Overall trading activity was better than yesterday. Today, the procurement sentiment for copper cathode in Guangdong was 2.32, up 0.13 from the previous trading day, and the shipments sentiment was 3.6, up 0.03 from the previous trading day (historical data can be accessed via the SMM database).

Overall, market trading activity picked up after the contract rollover, and premiums are expected to continue rising tomorrow.

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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