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Home / Metal News / Downstream players are wary of falling copper prices and spot premiums/discounts, with market trading activity remaining sluggish [SMM spot copper in North China]
Downstream players are wary of falling copper prices and spot premiums/discounts, with market trading activity remaining sluggish [SMM spot copper in North China]
Jul 10, 2025 11:16Source:SMM
Today, spot #1 copper cathode in North China traded at a discount of 210 yuan/mt to 170 yuan/mt against the front-month contract, with an average discount of 190 yuan/mt, unchanged from the previous trading day. The transaction prices ranged from 78,310 yuan/mt to 78,510 yuan/mt, with an average price of 78,410 yuan/mt, down 520 yuan/mt from the previous trading day.
SMM News on July 10:
Today, in North China, spot premiums/discounts for #1 copper cathode against the front-month contract ranged from a discount of 210 yuan/mt to a discount of 170 yuan/mt, with an average discount of 190 yuan/mt, unchanged from the previous trading day. The transaction price ranged from 78,310 yuan/mt to 78,510 yuan/mt, with an average price of 78,410 yuan/mt, down 520 yuan/mt from the previous trading day. Copper prices continued to decline, causing downstream buyers to be cautious about further price drops. Additionally, as the delivery date approached, the current price spread between futures contracts structure led downstream buyers to believe that there was still downside room for spot premiums and discounts in the future market. Therefore, market trading activity was sluggish today.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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