Increased Market Supply, Spot Premiums Lack Upward Momentum [SMM North China Spot Copper]

Published: May 20, 2026 11:19

Save

Today, #1 copper cathode spot prices in North China against the front-month contract were reported at an average discount of 300 yuan/mt to a discount of 200 yuan/mt, with the average discount of 250 yuan/mt unchanged from the previous trading day. The average transaction price was 103,095 yuan/mt, down 980 yuan/mt from the previous trading day.

SMM May 20:

Today, #1 copper cathode spot prices in North China against the front-month contract were reported at a discount of 300 yuan/mt to a discount of 200 yuan/mt, with the average discount of 250 yuan/mt unchanged from the previous trading day. The average transaction price was 103,095 yuan/mt, down 980 yuan/mt from the previous trading day. As copper prices continued to pull back, downstream restocking sentiment was somewhat boosted. However, entering the second half of this month, supply increased across northern regions including North China, Shandong, and Northeast China, putting spot premiums under pressure. Today, the procurement sentiment for copper cathode in North China was 2.01, up 0.19 from the previous trading day, while the shipments sentiment was 2.22, down 0.23 from the previous trading day ().

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 mins ago

China's Copper Enamelled Wire Exports Maintained High Prosperity in April

In April 2026, China's copper enamelled wire exports maintained high prosperity, with monthly exports of 13,716 mt, up 3.77% YoY, covering 133 countries and regions. By market, Vietnam, Japan, and South Korea remained the top three markets, accounting for approximately 32% combined. Exports to Vietnam edged up 1.5%, while those to Japan and South Korea pulled back YoY. Exports to Turkey surged 544.3% YoY, jumping to fourth place; exports to Thailand declined 27.8% YoY, dropping to fifth.

5 mins ago

9 mins ago

China's Copper Wire Rod Exports Surge 19.24% MoM, 112.27% YoY in April 2026

[Latest Data from the General Administration of Customs] In April 2026, China's copper wire rod exports totaled 30,500 mt, up 19.24% MoM and up 112.27% YoY. Exports of refined copper wire with a maximum cross-sectional dimension >6mm were 16,600 mt, up 21.66% MoM and up 108.2% YoY. Exports of other refined copper wire were 13,900 mt, up 16.47% MoM and up 117.36% YoY. (HS code: 74081100, 74081900)

9 mins ago

Competition Intensifies in the Malaysian Copper Rod Market: Surging Imports Heighten Local Rivalry

According to SMM research, strict entry regulations (Energy Commission/SIRIM) initially created a protective "moat" for Malaysian copper rod plants, as high compliance costs made imports uncompetitive. However, as overseas supply volumes grow, these upfront costs are being amortized, making imported rods highly price-competitive. Coupled with foreign firms accelerating their overseas expansion, local plants are feeling the squeeze. Impacted by this cost-effective external supply, domestic producers report dropping orders and are forced to slash quotes to defend market share. This local price war is expected to escalate further as direct exports to Malaysia continue to climb.

9 mins ago