Market Demand Improved, Spot Premiums Rose [SMM North China Spot Copper]

Published: Mar 4, 2026 11:23

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Today, spot #1 copper cathode in North China traded at a discount of 350–250 yuan/mt against the front-month contract, up 80 yuan/mt from the previous trading day. The average transaction price was 101,340 yuan/mt, down 180 yuan/mt from the previous trading day.

SMM March 4 News:

Today, in North China, spot #1 copper cathode prices against the front-month contract were at a discount of 350–250 yuan/mt, up 80 yuan/mt from the previous trading day, while the average transaction price was 101,340 yuan/mt, down 180 yuan/mt from the previous trading day. As copper prices pulled back, consumption demand improved. Meanwhile, secondary copper rod operating remained weak, and with enterprises resuming production after the holiday, the operating rate of copper cathode rod enterprises rose. With market demand increasing, spot premiums moved higher. Today, in North China, copper cathode purchasing sentiment was 2.85, up 0.73 from the previous trading day, while shipments sentiment was 2.52, up 0.56 from the previous trading day ().

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