The operating rate of enamelled wire production equipment rebounded by 0.13 percentage points WoW this week to...

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, Friday, downstream purchasing sentiment is expected to recover. As the delivery date approaches, suppliers are reluctant to sell domestic supplies at low prices, and spot premiums are anticipated to stabilize.

In North China today, spot #1 copper cathode prices against the front-month contract were at a discount of 180-140 yuan/mt, averaging a discount of 160 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices were 79,880-79,980 yuan/mt, averaging 79,930 yuan/mt, up 395 yuan/mt from the previous trading day.

Recently, bidding and annual long-term contract negotiations in the African refined-copper market have heated up. Driven by shifts in the global supply-demand structure, geopolitical tensions and tariff policy shocks, intense bidder competition has pushed the market into an early phase of resource scrambling and contractual bargaining. Especially from Q3 2025 onward, clear signals have emerged — such as upward revisions to FCA long-term contract premium in the DRC and Zambia, and sharp spikes in tender bids for spot lots.

【SMM Analysis: Copper Rod Market Concludes August with a Flat Performance Can the "Golden September" Peak Season a Turn-around? 】According to SMM, China's copper rod production in August totaled 1.0799 million mt, increased 9,900 mt MoM, with a growth rate of 0.93%. Among this, copper cathode rod production reached 923,000 mt, up 24,000 mt MoM, an increase of 2.67%; secondary copper rod production was 156,900 mt, decreased by 14,100 mt MoM, representing an 8.25% decline. In terms of operating rates……

【SMM Analysis: State Grid Intensifies Efforts as the 14th Five-Year Plan Concludes! Wire and Cable Industry Faces New Balance Between Inventory and Demand】September has arrived, yet the traditional "September-October peak season" effect in the wire and cable industry has not yet significantly materialized. The release of peak season demand is experiencing some lag, and market attention to the pace of demand release in the industry continues to rise......

SMM Morning Meeting Minutes: LME copper opened at $9,923.5/mt overnight, touched a low of $9,917/mt at the beginning of the session, then fluctuated upward throughout, approaching a high of $10,015.5/mt near the end, and finally closed at $10,012/mt, up 0.96%, with trading volume reaching 17,000 lots and open interest reaching 287,000 lots. The most-traded SHFE copper contract 2510 opened at 79,950 yuan/mt overnight, touched a low of 79,870 yuan/mt at the beginning of the session, then fluctuated upward throughout, approaching a high of 80,280 yuan/mt near the end, and finally closed at 80,190 yuan/mt, up 0.64%, with trading volume at 27,000 lots and open interest at 174,000 lots.