Copper prices fell, but suppliers refused to budge on prices when selling spot copper. However, trading was poor [SMM spot copper in South China]

Published: Jul 17, 2025 11:31

Save

SMM News on July 17:

Today, in Guangdong, spot #1 copper cathode is trading at a premium of 30 yuan/mt to 100 yuan/mt against the front-month contract, with an average premium of 65 yuan/mt, up 5 yuan/mt from the previous trading day. SX-EW copper is trading at a discount of 30 yuan/mt to 10 yuan/mt, with an average discount of 20 yuan/mt, up 10 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong is 77,965 yuan/mt, down 105 yuan/mt from the previous trading day, while the average price of SX-EW copper is 77,880 yuan/mt, up 100 yuan/mt from the previous trading day.

Spot Market: Inventory in Guangdong has risen again, primarily due to lower outflows from warehouses. Copper prices continue to pull back, and warrants have not yet been released, resulting in fewer marketable supplies. Suppliers are actively refusing to budge on prices. In the morning session, standard-quality copper was quoted at a premium of 40 yuan/mt, but poor trading led suppliers to lower their premiums. As of 11 a.m., high-quality copper for the front-month contract was quoted at a premium of 50 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 a large number of warrants (currently 19,000 mt in Guangdong) are expected to be released tomorrow, which is likely to suppress premiums.

Overall, copper prices have fallen, and suppliers are refusing to budge on prices, but trading remains poor, with premiums jumping initially and then pulling back.

》Subscribe to view historical SMM metal spot 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