On the delivery day, copper prices pulled back, and market activity slightly rebounded [SMM North China spot copper]

Published: Dec 15, 2025 11:21

Save

Spot prices of #1 copper cathode against the front-month contract in North China today were at a discount of 240-200 yuan/mt, averaging a discount of 220 yuan/mt, up 60 yuan/mt from the previous trading day. Transaction prices ranged from 91,850 to 92,130 yuan/mt, with the average price at 91,990 yuan/mt, down 1,345 yuan/mt from the previous trading day.

SMM December 15 News:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 240-200 yuan/mt, with an average discount of 220 yuan/mt, up 60 yuan/mt from the previous trading day. Transaction prices ranged from 91,850 to 92,130 yuan/mt, with an average of 91,990 yuan/mt, down 1,345 yuan/mt from the previous trading day. According to SMM methodology, spot copper cathode in North China was quoted against the front-month contract today. On the contract rollover and delivery day, spot premiums/discounts rose due to the futures price spread structure. Meanwhile, most suppliers quoted against the next-month contract at around a discount of 300 yuan/mt. Copper prices pulled back today, and market activity saw a slight rebound. In North China, the procurement sentiment for copper cathode was 1.15, up 0.14 from the previous trading day, while the sales sentiment was 1.88, up 0.13 from the previous trading day ().

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 mins ago

Operating Rate of SMM Scrap-Derived Copper Anode Producers 58.81%

[SMM Copper Anode] After the holiday, scrap-derived copper anode producers in China had all resumed normal operations. From March 6 to March 12, the operating rate of SMM scrap-derived copper anode producers was 58.81%, up 10.43 percentage points MoM. As the price difference between primary metal and scrap narrowed and copper anode RCs remained high, the operating rate is expected to fall to 58.72% next week.

4 mins ago

1 hour ago

Yukun Materials' Phase II Recycled Copper Ingot Project Nears Completion, Aims for 100,000 Tons Annual Capacity

At the Phase II construction site of Yukun Materials Technology Co., Ltd.'s recycled copper ingot project, it can be seen that the main structure of the plant has been completed. The entire project is expected to be fully finished in the second quarter. With a total investment of 1.08 billion yuan for Phase II, the annual production capacity of recycled copper ingots is projected to reach 100,000 tons once it reaches full operation.

1 hour ago

2 hours ago

This Week, the Operating Rate of the Enamelled Wire Industry Rebounded to 85.13%

Supported by ample earlier orders and full production schedules, the operating rate of the enamelled wire industry rose 4.06 percentage points WoW to 85.13% this week. According to enterprise feedback, new orders underperformed expectations this week. Affected by downstream wait-and-see sentiment amid falling prices, enterprises were relatively cautious in placing orders, and new orders increased by only 0.11 percentage points.

2 hours ago