SMM calculated the comprehensive scores based on the above weights, selecting the brands with overall advantages to be included in the expanded parity copper price collection brand system. The following is the SMM domestic parity copper price collection brand day. The implementation date is September 16, 2025, starting from the SHFE copper 2510 contract.

US Tariff Turmoil and the Performance of Copper Pipe & Tube Imports and Exports

[Shanghai spot copper] Looking ahead to tomorrow, being the last trading day of the month, premiums are expected to fluctuate, with SHFE copper spot premiums maintaining today's trend.

In North China today, #1 copper cathode spot prices against the front-month contract ranged from a discount of 100 yuan/mt to 40 yuan/mt, with an average discount of 70 yuan/mt, up 20 yuan/mt from the previous trading day. The transaction price was 78,850-78,980 yuan/mt, with an average of 78,915 yuan/mt, down 370 yuan/mt from the previous trading day.

SMM Morning Meeting Summary: LME copper opened at $9,788/mt overnight, initially reaching a high of $9,789/mt before fluctuating downward to a low of $9,730.5/mt during the session. It then rebounded in a "V-shaped" pattern, closing at $9,773.5/mt, down 0.74%, with trading volume at 16,000 lots and open interest at 266,000 lots. The most-traded SHFE copper 2510 contract opened at 78,820 yuan/mt, initially dropping to 78,660 yuan/mt, then fluctuated upward to reach 78,880 yuan/mt. It later fluctuated rangebound, closing at 78,850 yuan/mt, down 0.63%, with trading volume at 37,000 lots and open interest at 169,000 lots.

[SHFE Copper Spot] Looking ahead to tomorrow, as the month-end approaches, market sentiment is expected to weaken further, and SHFE copper spot premiums are anticipated to remain stagnant.