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Home / Metal News / Copper Prices Pull Back, Boosting Downstream Restocking Sentiment, Spot Premiums/Discounts Rebound [SMM North China Spot Copper]
Copper Prices Pull Back, Boosting Downstream Restocking Sentiment, Spot Premiums/Discounts Rebound [SMM North China Spot Copper]
Nov 3, 2025 11:30Spot prices of #1 copper cathode in North China against the front-month contract were at a discount of 210–150 yuan/mt today, averaging a discount of 180 yuan/mt, up 30 yuan/mt from the previous trading day. Transaction prices ranged from 86,530 to 86,800 yuan/mt, with an average of 86,665 yuan/mt, down 695 yuan/mt from the previous trading day.
SMM November 3 News:
Today, spot #1 copper cathode in North China was at a discount of 210-150 yuan/mt against the front-month contract, with an average discount of 180 yuan/mt, up 30 yuan/mt from the previous trading day. Transaction prices ranged from 86,530 to 86,800 yuan/mt, with an average of 86,665 yuan/mt, down 695 yuan/mt from the previous trading day. As copper prices pulled back, downstream restocking sentiment improved, demand showed signs of recovery, and market activity along with spot premiums/discounts rebounded. Today, purchasing sentiment for copper cathode in North China was 1.96, up 0.44 from the previous trading day, while selling sentiment was 1.88, up 0.13 from the previous trading day ().
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