Buyers and sellers were inactive in trading at month-end, and spot copper premiums declined. [SMM South China Spot Copper]

Published: Aug 29, 2025 11:31

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SMM August 29 news:

Today, spot prices of #1 copper cathode in Guangdong against the front-month contract ranged from a premium of 30 yuan/mt to 90 yuan/mt, with the average premium at 60 yuan/mt, down 5 yuan/mt from the previous trading day. SX-EW copper was quoted at a discount of 30-40 yuan/mt, with the average discount at 35 yuan/mt, down 5 yuan/mt. The average price of #1 copper cathode in Guangdong was 79,190 yuan/mt, up 160 yuan/mt from the previous day, while SX-EW copper averaged 79,090 yuan/mt, up 155 yuan/mt.

Spot market: Guangdong inventory declined again today. Approaching month-end, weak consumption coupled with fewer arrivals led to continued inventory drawdown. As a result, suppliers had to lower prices, yet transactions remained sluggish. Market participants will monitor next week's arrivals; if supply remains tight, premiums may stabilize. Today, purchasing sentiment for copper cathode in Guangdong stood at 1.81, down 0.09 from yesterday, while selling sentiment was 2.9, down 0.21 (historical data available in the database). As of 11:00, high-quality copper against the front-month contract was quoted at a 90 yuan/mt premium, standard-quality copper at 30 yuan/mt, and SX-EW copper at a 40 yuan/mt discount. Notably, recent arrivals of imported copper increased, widening the price spread between SX-EW and standard-quality copper.

Overall, month-end trading activity remained subdued among buyers and sellers, with spot premiums trending lower. Market focus will shift to weekend arrivals.

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.

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