Limited spot circulation during the day, sellers' sentiment of dumping goods was relatively heavy, leading to a decline in premiums [SMM Shanghai spot copper]

Published: Dec 16, 2025 14:24

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[Shanghai spot copper] Looking ahead to tomorrow, spot copper suppliers are expected to remain reluctant to circulate goods after the delivery of SHFE copper 2512 contract, and the spot discount is anticipated to persist significantly tomorrow.

SMM December 16 News:

Today, SMM #1 copper cathode spot prices against the current month 2601 contract were quoted at a discount of 180 yuan/mt to a discount of 70 yuan/mt, with the average price quoted at a discount of 125 yuan/mt, down 185 yuan/mt from the previous trading day; the SMM #1 copper cathode price ranged from 91,320 to 92,030 yuan/mt. In the morning session, the SHFE copper 2601 contract mainly traded between 91,500 and 92,150 yuan/mt, with the inter-month price spread basically between a contango of 110 and a contango of 70.

During the day, sellers showed strong sales sentiment, but buyer purchasing sentiment was poor, leading to a continuous decline in spot premiums, with overall demand weak. In the morning, suppliers quoted standard-quality copper at around a discount of 140 yuan/mt against the next month contract, and high-quality copper at around a discount of 70 yuan/mt; subsequently, during the second trading session, prices fell to a discount of 170 yuan/mt and even 180 yuan/mt for standard-quality copper, while high-quality copper was quoted at a discount of 100 yuan/mt.

Looking ahead to tomorrow, after the delivery of the SHFE copper 2512 contract, suppliers' willingness to circulate spot cargo is expected to be weak, and spot prices are anticipated to remain at a significant discount tomorrow.

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