SMM New Year’s Day Holiday Notice

Prysmian announced on September 23 that it has signed a new long-term copper wire rod supply agreement with Aurubis, representing the largest contract between the two companies in more than 30 years of cooperation. The agreement is designed to secure long-term copper supply for Prysmian’s European cable operations and strengthen regional supply-chain resilience. The companies did not disclose the contract duration, volumes or financial value. Prysmian Corporate Aurubis’ copper wire rod currently contains approximately 36% recycled material on average, and the partners intend to progressively increase circular content in future supplies. Prysmian highlighted accelerating copper demand from electrification, power-grid expansion, digitalisation and AI infrastructure as a key reason for locking in long-term access to lower-carbon copper. For the recycled-copper market, the agreement is particularly notable as a major European cable producer is securing long-term wire rod supply with a substantial and rising recycled-copper component.

SMM Morning Meeting Summary: LME copper: opened at $14,668.5/mt, hit a high of $14,691.5/mt, a low of $14,568.5/mt, and closed at $14,632/mt, down 0.1%. Trading volume was 10,000 lots, with open interest at 262,000 lots, an increase of 419 lots from the previous trading day, indicating bearish positioning. The most-traded SHFE copper 2610 contract: closed for the Mid-Autumn Festival holiday.