End-use demand was sluggish, suppliers cut prices to sell, and overall trading sentiment weakened [SMM South China Spot Copper]

Published: Jun 18, 2026 11:59

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SMM June 18:

Today, Guangdong #1 copper cathode spot against the front-month contract: High-quality copper was reported at 200 yuan/mt, down 10 yuan/mt from the previous trading day; standard-quality copper was reported at a premium of 140 yuan/mt, down 10 yuan/mt from the previous trading day; SX-EW copper was reported at a premium of 80 yuan/mt, down 10 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 105,165 yuan/mt, down 335 yuan/mt from the previous trading day, and the average price of SX-EW copper was 105,005 yuan/mt, down 405 yuan/mt from the previous trading day.

Spot market: Today, Guangdong inventory edged up slightly, with weak consumption as the main reason. Since some downstream enterprises had production cuts during the Dragon Boat Festival, pre-holiday restocking was limited, and suppliers had to lower prices to sell, causing premiums today to drop from yesterday. Today, Guangdong's copper cathode purchasing sentiment was 2.19, down 0.02 from the previous trading day, and shipping sentiment was 2.63, up 0.08 from the previous trading day (historical data can be accessed by logging into the database).

Overall, end-use demand was weak, suppliers lowered prices to sell, and overall trading weakened.

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.

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