SMM Offshore Copper Cathode Sentiment Index Now Available [SMM Analysis]

The intraday fluctuations in the offshore spot market have been increasing, showing a cyclical opening characteristic in the 2025 trading window. To better serve the participants in the spot market, based on professional market research experience, the SMM copper research team has, after long-term data accumulation and repeated validation, developed an offshore spot copper cathode purchase and sales sentiment index, building upon the existing SMM Yangshan copper premiums methodology. This index, through the construction of a multi-dimensional quantitative model, comprehensively considers various market factors such as spot trading volume, quotation activity, and the willingness of buyers and sellers, objectively reflecting the true trading psychology of market participants. The SMM team updates this index every working morning at 12:00, providing timely and accurate market sentiment references for companies along the industry chain. This innovative indicator, not only quantifiable and traceable, can also alert to abnormal market fluctuations, helping enterprises make more scientific decisions in procurement, sales, and other aspects, thereby effectively avoiding market risks and seizing trading opportunities.

Application Scenarios

• Use the spot sales sentiment index to determine if the spot situation is loose and whether there is a demand for purchases downstream.
• Use the spot purchasing sentiment index to assess the enthusiasm of downstream purchases and the degree of raw material shortage.
• Based on the spot sales sentiment index, judge the number of spot market offers and the spot trading conditions, and combine with the SHFE/LME price ratio to determine the timing of purchases and sales.