SMM Analysis: According to data from the General Administration of Customs, in July 2025, China's copper foil (HS code: 74101100, 74102190) imports were 6,472.22 mt, up 6.01% YoY and up 4.89% MoM; cumulative imports from January to July 2025 were 46,665.86 mt, up 1.42% YoY...

SMM data showed that the operating rate of enamelled wire machines in the industry decreased by 0.27 percentage points WoW to ...

[SHFE Copper Spot] Looking ahead to tomorrow, with domestic production continuing to enter the warehouse and under the drag of low-priced imported goods, SHFE copper spot premiums are expected to fall further. However, as it is Friday tomorrow, downstream purchasing sentiment is expected to remain firm, limiting the decline in SHFE copper spot premiums.

In North China, #1 copper cathode spot prices against the front-month contract ranged from a discount of 70 yuan/mt to a discount of 30 yuan/mt, with an average discount of 50 yuan/mt, up 10 yuan/mt from the previous trading day. The transaction price was 78,540-78,640 yuan/mt, with an average of 78,590 yuan/mt, up 70 yuan/mt from the previous trading day.

Futures: LME copper opened at $9,679.5/mt overnight, fluctuated rangebound at $9,670.5/mt in early trading, then the center of copper prices gradually moved upward to a high of $9,712/mt, and finally closed at $9,721/mt, up 0.38%, with trading volume reaching 14,000 lots and open interest reaching 263,000 lots.