Copper Prices Rebound, Demand Suppressed, Market Transactions Weaken [SMM North China Spot Copper]

Published: Nov 24, 2025 11:14

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In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 200-140 yuan/mt, averaging a discount of 170 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 85,850 to 86,110 yuan/mt, with an average of 85,980 yuan/mt, up 415 yuan/mt from the previous trading day.

SMM November 24 News:

Today in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 200-140 yuan/mt, with an average discount of 170 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 85,850 to 86,110 yuan/mt, with an average price of 85,980 yuan/mt, up 415 yuan/mt from the previous trading day. As copper prices rebounded above 86,000 yuan/mt, downstream demand was suppressed, leading to weaker spot premiums/discounts and sluggish trading activity. Today in North China, the procurement sentiment for copper cathode was 1.74, down 0.27 from the previous trading day, while the sales sentiment was 2.33, down 0.08 from the previous trading day ().

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