As the end of the quarter approached, downstream restocking demand was low, and suppliers had to reduce prices to sell spot copper.

Published: Mar 27, 2025 11:30

Save

SMM March 27 news:

Today, spot prices of #1 copper cathode in Guangdong against the front-month contract were reported at a premium of 60 yuan/mt to 120 yuan/mt, with an average premium of 90 yuan/mt, down 40 yuan/mt from the previous trading day. SX-EW copper was reported at a discount of 10 yuan/mt to a premium of 10 yuan/mt, with an average premium of 0 yuan/mt, down 40 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 81,565 yuan/mt, down 1,395 yuan/mt from the previous trading day, while the average price of SX-EW copper was 81,475 yuan/mt, down 1,395 yuan/mt from the previous trading day.

Spot market: Inventory in Guangdong increased for four consecutive days, mainly due to increased arrivals. Although copper prices pulled back significantly, inventory continued to rise, coupled with weak restocking demand from downstream users nearing the end of the quarter, forcing suppliers to continuously lower premiums to sell. As of 11:00, high-quality copper against the front-month contract was reported at a premium of 120 yuan/mt, standard-quality copper at a premium of 60 yuan/mt, and SX-EW copper at a premium of 0 yuan/mt. Attention is focused on whether arrivals will continue to increase in the future.

Overall, with weak restocking demand from downstream users nearing the end of the quarter, suppliers had to lower prices to sell, resulting in poor overall trading activity.

》Order to view SMM metal spot historical prices

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 for 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

2 hours ago

Economic Improvement of the Boumadine Polymetallic Mine in Morocco

2 hours ago

3 hours ago

Panguna Copper-Gold Mine Camp Attacked, Highlighting Security Risks to Redevelopment

The Autonomous Bougainville Government said the Lloyds Panguna Metals & Energy Limited camp at the Panguna copper-gold mine was attacked on September 13. Personnel were assaulted and machinery was damaged in an arson attack. Authorities have not disclosed the extent of injuries or equipment losses. President Ishmael Toroama condemned the incident and said the government would continue pursuing the mine’s redevelopment.

3 hours ago

NICICO Puts Iran’s Copper Ore Resources at 24.5bn Tonnes; Exploration Drilling Nears 200,000 Metres

According to Iranian media reports citing Seyed Mostafa Feiz, CEO of the National Iranian Copper Industries Company (NICICO), Iran’s geological copper ore resources rose to 24.5 billion tonnes from 22.2 billion tonnes at the start of the Iranian year, up 10.6%. Mineable (designable) reserves increased to 18.2 billion tonnes from 16.8 billion tonnes, while 198,462 metres of exploration drilling were completed in the first five months—about 40% of the 500,000-metre full-year target. At Miduk, mineable reserves rose 123% to 1.77 billion tonnes and geological resources increased 186% to 2.883 billion tonnes. The Sarcheshmeh cluster’s mineable reserves reached 7.7 billion tonnes at an average grade of 0.41%, with the mine’s operating permit extended through Iranian year 1429 (around 2050–51). Total material extracted during the period exceeded 153 million tonnes, up about 4% year on year; this figure includes sulphide ore, oxide material and waste rock, and is not copper production. The expanded resource and reserve base supports Iran’s longer-term development potential, but does not imply an immediate increase in supply.

3 hours ago