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Copper Prices on Track to Climb Further in 2026, Backed by Growing Optimism and Robust Fundamentals:【Takeaway from SMM Copper Conference】
Nov 03, 2025 12:03
On October 30, at the main forum of the CCAE2025 SMM (14th) Copper Industry Annual Conference and the 2nd Shanxi Copper-Based New Materials Industry Chain Development Conference, hosted by SMM Information & Technology Co., Ltd. and Zhongtiaoshan Nonferrous Metals Group Co., Ltd., Ye Jianhua, SMM Big Data Director, analyzed the current market uncertainties, supply and demand, and prices in the copper market, discussed the impact of factors such as Trump's policies, mine production, trade patterns, and the supply-demand balance on the market, and provided an outlook on the future trends of the copper market.
Copper prices returned to the 85,000 yuan/mt level, with downstream short-term concentrated restocking and improved transaction activity [SMM Shanghai spot copper]
[SMM Shanghai Spot Copper] Looking ahead to tomorrow, copper prices are expected to stabilize after a sharp decline, as downstream demand recovers briefly but most market participants remain in a wait-and-see mood. Following short-term restocking, transactions are unlikely to see significant growth, and spot premiums are anticipated to hold steady.
Nov 5, 2025 14:54
Copper Prices Continue to Pull Back, Market Activity Rebounds, Spot Premiums/Discounts Rise [SMM North China Spot Copper]
In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 180-140 yuan/mt, averaging a discount of 160 yuan/mt, up 20 yuan/mt from the previous trading day. Transaction prices ranged from 85,050 to 85,250 yuan/mt, with the average price at 85,150 yuan/mt, down 1,260 yuan/mt from the previous trading day.
Nov 5, 2025 11:23
The Trump Administration Plans Military Action Against Venezuela, Overnight LME Copper Plummets [SMM Copper Morning Meeting Minutes]
SMM Morning Meeting Minutes: LME copper opened at $10,630.5/mt overnight, initially fluctuating downward to touch a low of $10,577.5/mt, then copper prices gradually rose to a high of $10,689.5/mt before pulling back to close at $10,649/mt, down 1.57%, with trading volume at 33,000 lots and open interest at 325,000 lots. The most-traded SHFE copper contract 2512 opened at 85,000 yuan/mt overnight, touched a low of 84,900 yuan/mt initially, then fluctuated upward to a high of 85,760 yuan/mt near the close, finally settling at 85,690 yuan/mt, down 0.86%, with trading volume at 69,000 lots and open interest at 223,000 lots.
Nov 5, 2025 09:04
Copper Prices Continue to Decline, Spot Copper Trading Sentiment Gradually Improves on the SHFE [SMM Shanghai Spot Copper]
[SMM Shanghai Spot Copper] Tomorrow, copper prices are expected to fall below 86,000 yuan/mt, with downstream purchasing sentiment improving slightly. However, bearish sentiment persists, and the Contango price spread between futures contracts is gradually narrowing. Suppliers may lower premiums to boost transactions.
Nov 4, 2025 14:49
Copper prices weakened, demand recovered somewhat, and market activity slightly picked up [SMM North China Spot Copper]
Spot #1 copper cathode prices in North China against the front-month contract were at a discount of 210–150 yuan/mt today, with an average discount of 180 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 86,150 to 86,670 yuan/mt, with an average of 86,410 yuan/mt, down 255 yuan/mt from the previous trading day.
Nov 4, 2025 11:31
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