Sellers lower spot copper premiums to boost trades before holiday

Published: Sep 25, 2018 14:21

Save

Spot copper was mostly offered at a premium of 50-120 yuan/mt over the SHFE October contract in Shanghai on Sep 25

SHANGHAI, Sep 25 (SMM) – Spot copper was mostly offered at a premium of 50-120 yuan/mt over the SHFE October contract in Shanghai on Tuesday September 25. This compared with a premium of 110-190 yuan/mt last Friday.

Sellers showed more destock willingness before the week-long National Day holiday on October 1, and lowered premiums to boost trades. The October contract traded some 200-300 yuan/mt higher than the dominant SHFE November contract this morning, and this also accounted for the lower spot premiums.

Oversupply quickly dragged down offers for copper with October’s invoice in the morning, usually standing 20-30 yuan/mt lower from offers of the same products with invoice for September. Trades started to pick up when offers fell to a premiums of 100 yuan/mt for high-quality copper with September’s invoice, and to a premium of 50 yuan/mt for standard-quality copper with October’s invoice.

At noon, high-grade copper traded at 50,430-50,540 yuan/mt and standard-quality copper traded at 50,400-50,500 yuan/mt.

Market commentary Spot copper

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

35 mins ago

Copper Faces Short-Term Surplus but Long-Term Deficit Outlook

The copper market is increasingly split between short-term surplus and long-term deficit expectations. Rising inventories and weak demand are weighing on prices now, but electrification trends still support a bullish long-term outlook, signaling a shift from scarcity-driven trading to fundamentals-driven correction.

35 mins ago

36 mins ago

Copper Pricing Disconnect Emerges Between Financial Flows and Fundamentals

Copper prices surged earlier in 2026 amid strong speculative inflows and rising futures positioning. However, physical demand has lagged, and inventories continue to build, creating a growing disconnect between financial pricing and real market fundamentals.

36 mins ago

1 hour ago

Jiangxi Copper Successfully Ignites Furnace for Full-Chain Solid Waste Utilization Project

At 10 a.m. on March 28, the side-blown furnace of Jiangxi Jiangtong Tongxin Environmental Protection Resource Comprehensive Utilization and Environmental Protection Equipment Manufacturing Phase II Project was successfully ignited, marking the full commissioning of Jiangxi Copper Group’s first full-chain project for solid waste resource utilization and environmental protection equipment manufacturing.

1 hour ago