Copper Prices Retreat, SHFE Spot Copper Sees Lower Prices and Higher Volume [SMM SHFE Spot Copper]

Published: Oct 17, 2025 15:01

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[SMM Shanghai Spot Copper] Next week, the outflow of warrants and the arrival of imported cargoes are expected to put pressure on the market. The decline in copper prices is expected to provide downstream purchasing opportunities, and trading sentiment is anticipated to improve relatively.

SMM October 17 News:

Today, SMM #1 copper cathode spot prices against the current month 2511 contract were at parity to a premium of 110 yuan/mt, with the average quote at a premium of 55 yuan/mt, down 5 yuan/mt from the previous trading day; SMM #1 copper cathode prices were 84,640-84,910 yuan/mt. In the morning, SHFE copper fell from 85,070 yuan/mt, reaching a low of 84,620 yuan/mt around 10 am; the spread between contracts fluctuated within the C30-C10 range, and the import loss for SHFE copper narrowed to around 800 yuan/mt.

Sentiment for both buying and selling improved during the day, with the purchasing sentiment for electrolytic copper in Shanghai at 3.05 and the selling sentiment at 3.12. In the morning, suppliers quoted standard-quality copper at a premium of 20-80 yuan/mt, and as transactions gradually pulled back, the trading range was at parity to a premium of 60 yuan/mt. High-quality copper was tight during the day, with most transactions at a premium of 90-100 yuan/mt. SX-EW copper was also relatively tight, with concentrated arrivals of non-registered goods, leading to downward pressure on prices.

Looking ahead to next week, the outflow of warrants and imported arrivals will put pressure on market sales. As copper prices pull back, this will provide more room for downstream purchases, and it is expected that trading sentiment will improve.

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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