As it was the mid-year settlement period, trading activity among buyers and sellers was mediocre. Overall trading volume was lower than that of last Friday [SMM spot copper].

Published: Jun 30, 2025 11:30

Save

SMM June 30 Report:

Today, in Guangdong, the spot premiums for #1 copper cathode against the front-month contract ranged from 30 yuan/mt to 100 yuan/mt, with an average premium of 65 yuan/mt, a decrease of 30 yuan/mt from the previous trading day. SX-EW copper was quoted at discounts ranging from 30 yuan/mt to 10 yuan/mt, with an average discount of 20 yuan/mt, a decrease of 10 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 79,940 yuan/mt, a decrease of 130 yuan/mt from the previous trading day, while the average price of SX-EW copper was 7,985 yuan/mt, a decrease of 110 yuan from the previous trading day.

Spot Market: After the weekend, inventory in Guangdong increased again. With weak downstream demand approaching mid-year, suppliers actively shipped goods to warehouses, and attention will be paid to whether inventory can continue to increase tomorrow. Coinciding with mid-year settlements, both buyers and sellers were not active in trading, and spot premiums dropped slightly by 10 yuan/mt compared to yesterday. As of 11 a.m., high-quality copper for the front-month contract was quoted at 100 yuan/mt, standard-quality copper at a premium of 30 yuan/mt, and SX-EW copper at a discount of 20 yuan/mt. It is worth noting that the supply of high-quality copper has increased compared to before, and today's premium for high-quality copper has decreased significantly.

Overall, coinciding with mid-year settlements, trading activity between buyers and sellers was mediocre, and overall trading was not as active as last Friday.

》Subscribe 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 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

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54

Feb 6, 2026 23:47

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

Feb 6, 2026 23:47