Copper prices soar, consumption takes another hit, and market activity remains sluggish [SMM spot copper in North China]

Published: Jul 2, 2025 11:14

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Today, spot #1 copper cathode in North China traded at a discount of 200 yuan/mt to 80 yuan/mt against the front-month contract, with an average discount of 140 yuan/mt, a decrease of 20 yuan/mt from the previous trading day. The transaction prices ranged from 80,610 yuan/mt to 80,850 yuan/mt, with an average price of 80,730 yuan/mt, an increase of 845 yuan/mt from the previous trading day.

SMM News on July 2:

Today, in North China, spot #1 copper cathode is trading at a discount of 200 yuan/mt to 80 yuan/mt against the front-month contract, with an average discount of 140 yuan/mt, a decrease of 20 yuan/mt from the previous trading day. The transaction prices range from 80,610 yuan/mt to 80,850 yuan/mt, with an average price of 80,730 yuan/mt, an increase of 845 yuan/mt from the previous trading day. Copper prices have surged significantly, imposing a notable impact on market consumption in North China. However, at the beginning of the month, suppliers face relatively small inventory pressure, and market activity remains extremely sluggish.

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