Copper Prices Weakened as Downstream Maintained a Wait-and-See Stance, Spot Premiums Under Pressure [SMM North China Spot Copper]

Published: Apr 28, 2026 11:42

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Today, #1 copper cathode spot prices in North China against the front-month contract were reported at a discount of 200 yuan/mt to a discount of 120 yuan/mt, with an average discount of 160 yuan/mt, down 10 yuan/mt from the previous trading day. The average transaction price was 101,850 yuan/mt, down 990 yuan/mt from the previous trading day.

SMM April 28:

Spot #1 copper cathode prices against the front-month contract in North China averaged a discount of 200-120 yuan/mt, with the average discount of 160 yuan/mt down 10 yuan/mt from the previous trading day, and the average transaction price at 101,850 yuan/mt, down 990 yuan/mt from the previous trading day. As copper prices fell today, downstream buyers maintained a wait-and-see sentiment. Weak consumption raised concerns among suppliers about stockpiling demand ahead of the Labour Day holiday, putting spot premiums under pressure. The purchasing sentiment for copper cathode in North China was 1.66, up 0.14 from the previous trading day, while the shipments sentiment was 2.08, up 0.36 from the previous trading day ().

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