Spot Trading Activity Cooled, Spot Premiums Held Steady [SMM North China Spot Copper]

Published: Mar 25, 2026 11:20

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Spot prices of #1 copper cathode in North China against the front-month contract were reported at a discount of 110 yuan/mt to a discount of 50 yuan/mt today, unchanged from the previous trading day, while the average transaction price rose 1,635 yuan/mt from the previous trading day to 95,595 yuan/mt.

SMM News, March 25:

Today, spot prices of #1 copper cathode in North China were reported at a discount of 110-50 yuan/mt against the front-month contract, unchanged from the previous trading day, while the average transaction price was 95,595 yuan/mt, up 1,635 yuan/mt from the previous trading day. As copper prices continued to rebound, downstream players maintained wait-and-see sentiment, and the market was mainly focused on fulfilling long-term contracts, with spot trading activity in North China cooling WoW. Today, the copper cathode procurement sentiment in North China was 2.11, down 0.13 from the previous trading day, while shipments sentiment was 2.31, down 0.28 from the previous trading day ().

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