Copper Prices Pulled Back Consecutively, Downstream Buyers Remained Cautious Due to High Prices [SMM North China Spot Copper]

Published: May 18, 2026 11:28

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 180 yuan/mt, with the average discount of 240 yuan/mt up 30 yuan/mt from the previous trading day. The average transaction price was 103,935 yuan/mt, down 1,440 yuan/mt from the previous trading day.

SMM May 18 News:

Spot prices of #1 copper cathode in North China against the front-month contract averaged a discount of 300 yuan/mt to a discount of 180 yuan/mt, with the average discount of 240 yuan/mt up 30 yuan/mt from the previous trading day. The average transaction price was 103,935 yuan/mt, down 1,440 yuan/mt from the previous trading day. Entering the mid-to-late period of this month, some suppliers shipped out cargoes ahead of schedule. On the demand side, the continuous pullback in copper prices caused fear of high prices among some downstream enterprises, who adopted a wait-and-see attitude. The purchasing sentiment for copper cathode in North China was 1.98, up 0.32 from the previous trading day, while the shipments sentiment was 2.58, up 0.09 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

19 mins ago

Copper Price Decline Activated Some Buying, Shanghai Spot Copper Premiums Remained Under Pressure

Intraday SHFE copper prices edged down, effectively activating some downstream buying interest. According to SMM, orders at some downstream processing enterprises increased by approximately 30% compared to the previous trading day, with part of the transactions concentrated around 103,500 yuan/mt, indicating that current price levels still held certain appeal for end-users. Inventory side, SMM data showed that social inventory in the Shanghai region was recorded at 181,800 mt, down 2,800 mt WoW from last Thursday; inventory in the Jiangsu region was 38,100 mt, up slightly by 1,200 mt WoW from last Thursday. Overall, a mild destocking trend was observed, with inventory pressure easing marginally. Market performance side, supplier offers were basically stable, and the transaction center showed no significant downward shift. Overall, supported by demand release stimulated by copper price pullbacks and mild destocking, spot prices against the SHFE copper 2606 contract are expected to remain at a discount tomorrow, continuing a generally stable trend.

19 mins ago

1 hour ago

Declining Copper Prices Activated Some Buying, Shanghai Spot Copper Premiums Remained Under Pressure [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Intraday SHFE copper prices edged down, effectively activating some downstream buying interest. According to SMM, orders from some downstream processing enterprises increased by approximately 30% compared to the previous trading day, with some transactions concentrated around 103,500 yuan/mt, indicating that current price levels still hold certain appeal for end-users. Inventory side, SMM data showed that social inventory in the Shanghai area registered 181,800 mt, down 2,800 mt WoW from last Thursday; inventory in the Jiangsu area was 38,100 mt, up slightly 1,200 mt WoW from last Thursday. Overall, a mild destocking trend was observed, with inventory pressure easing marginally. From market performance, suppliers' offers remained basically stable, and the transaction center showed no significant downward shift. Overall, supported by demand release stimulated by copper price pullbacks and mild destocking, spot prices against the SHFE copper 2606 contract are expected to remain at a discount tomorrow, continuing a generally stable trend.

1 hour ago

Copper Prices Pulled Back with Increased Downstream Procurement, Overall Trading Slightly Better Than Last Friday [SMM South China Spot Copper]

1 hour ago