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Home / Metal News / Copper prices rose in the morning session, while the trading center of Shanghai spot copper continued to decline [SMM Shanghai spot copper]
Copper prices rose in the morning session, while the trading center of Shanghai spot copper continued to decline [SMM Shanghai spot copper]
Dec 11, 2025 15:33[SMM Shanghai Spot Copper] Tomorrow, downstream purchasing sentiment is expected to improve, but overall, the transaction center of SHFE copper is unlikely to rebound.
SMM December 11 news:
Today, the spot price of SMM #1 copper cathode against the current month 2512 contract was quoted at a discount of 50 yuan/mt to a premium of 60 yuan/mt, with an average premium of 5 yuan/mt, down 25 yuan/mt from the previous trading day. The SMM #1 copper cathode price was 92,400-92,930 yuan/mt. In early trading, the SHFE copper 2512 contract surged to 92,930 yuan/mt before giving up gains.
Procurement sentiment significantly declined during the day, with downstream users expected to halt purchases facing copper prices of 93,000 yuan/mt. Due to the year-end and approaching delivery of the SHFE copper 2512 contract, selling sentiment was pronounced during the day. From the start of morning trading, suppliers offered at a discount, with high-quality copper premiums falling from 80 yuan/mt to 30 yuan/mt. Non-registered sources, impacted by copper scrap, saw prices drop to a discount of 300 yuan/mt.
Looking ahead to tomorrow, downstream procurement sentiment is expected to improve on Friday, but overall, the trading center for SHFE copper is unlikely to rebound.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.
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