[SMM Shanghai Spot Copper] Copper prices around 80,000 yuan/mt are expected to suppress downstream procurement tomorrow. However, as it will be Friday, downstream stocking sentiment is likely to rise, which is expected to limit the decline in premiums.

The operating rate of enamelled wire production equipment edged down 0.06 percentage points WoW to ......

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 100-80 yuan/mt, averaging a discount of 90 yuan/mt, down 20 yuan/mt from the previous trading day. The transaction price ranged from 79,790 to 80,050 yuan/mt, averaging 79,920 yuan/mt, down 340 yuan/mt from the previous trading day.

SMM Morning Meeting Summary: Overnight, LME copper opened at $9,986.5/mt, fluctuated downward initially to touch a low of $9,934/mt, then rose continuously to reach a high of $10,006.5/mt during the session, and finally closed at $9,974/mt, down 0.39%, with trading volume at 21,000 lots and open interest at 281,000 lots. Overnight, the most-traded SHFE copper 2510 contract opened and touched a low of 80,000 yuan/mt, then the center of copper prices gradually moved upward to reach a high of 80,430 yuan/mt, jumped initially and then pulled back, and finally closed at 80,260 yuan/mt, up 0.1%, with trading volume at 26,000 lots and open interest at 191,000 lots.

Data released by Chilean Customs showed that Chile's copper exports totaled 176,430 mt in August, with 44,803 mt shipped to China during the same month.  

On August 26, Zijin Mining Group Co., Ltd. (hereinafter referred to as "Zijin Mining") released its 2025 semi-annual report.

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 90-50 yuan/mt, averaging a 70 yuan/mt discount, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 80,150 to 80,370 yuan/mt, with the average at 80,260 yuan/mt, up 370 yuan/mt from the previous trading day.