Copper Prices Weaken, Transactions Recover, Spot Discounts Continue to Narrow [SMM North China Spot Copper]

Published: Jun 11, 2026 11:54

Save

In North China today, spot #1 copper cathode against the front-month contract was quoted at an average discount of 240–140 yuan/mt, with the average discount settling at 190 yuan/mt, up 40 yuan/mt from the previous trading day. The average transaction price was 103,030 yuan/mt, down 780 yuan/mt from the previous trading day.

SMM, June 11:

Today, spot #1 copper cathode in North China against the front-month contract was quoted at discounts of 240 yuan/mt to 140 yuan/mt, with an average discount of 190 yuan/mt, up 40 yuan/mt from the previous trading day. The average transaction price was 103,030 yuan/mt, down 780 yuan/mt from the previous trading day. As copper prices continued to weaken, downstream buying interest was boosted, market trading picked up, and with the delivery date approaching, spot discounts continued to narrow. Today, procurement sentiment for copper cathode in North China stood at 2.53, up 0.38 from the previous trading day, while shipment sentiment stood at 1.97, up 0.22 ().

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

4 mins ago

Copper prices declined, downstream order volumes surged, and market purchasing recovered.

[SMM Shanghai spot copper] Intraday copper prices declined, with the SHFE copper 2607 contract trading mainly in the range of 102,700 yuan/mt to 103,400 yuan/mt. According to SMM, affected by this, some downstream copper rod enterprises saw a release of orders, which were characterized by "small volumes and high frequency." The willingness of end-users to buy the dip gradually emerged, and market purchasing sentiment recovered somewhat.

4 mins ago

48 mins ago

Falling copper prices activate bargain hunting, while the approaching delivery and backwardation structure support SHFE copper premiums [SMM Shanghai spot copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the intraday copper price center is expected to shift lower, boosting downstream buyers' willingness to restock at lower prices, with some processing enterprises reporting order releases. The month spread structure has shifted from contango to backwardation. Suppliers' delivery profits from holding positions rose, with a strong reluctance to sell. Low-priced available cargoes on the market were tight. After the quick deals of discounted materials in early trading, quotes continued to be raised, and the premium for high-quality copper has widened to 60-100 yuan/mt. Supply side, SMM recorded that Shanghai's social inventory on June 11 was 155,700 mt, down 11,400 mt from June 8, mainly due to concentrated maintenance by domestic smelters and reduced imported arrivals, with spot circulation remaining tight. Overall, under the combined effect of delivery logic, backwardation structure support, and marginal consumption improvement, Shanghai spot copper prices against the SHFE copper 2606 contract are expected to maintain a premium and sustain a firm trend.

48 mins ago

52 mins ago

Decreased arrivals, combined with lower copper prices and increased restocking, drove spot premiums sharply higher [SMM South China Copper Cathode Spot Weekly Review]

52 mins ago