Buyers and sellers showed low enthusiasm, and market activity was sluggish. [SMM North China Spot Copper]

Published: Jan 23, 2026 11:17

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Spot #1 copper cathode in North China today was at a discount of 470-350 yuan/mt against the front-month contract, with an average discount of 410 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 100,420 to 100,780 yuan/mt, with an average of 100,600 yuan/mt, up 770 yuan/mt from the previous trading day.

SMM Jan. 23:

In north China, spot #1 copper cathode against the front-month contract was at a discount of 470-350 yuan/mt today, with the average discount at 410 yuan/mt, flat from the previous trading day. Transaction prices were 100,420-100,780 yuan/mt, with the average price at 100,600 yuan/mt, up 770 yuan/mt from the previous trading day. Copper prices rebounded today, but downstream consumption remained weak. Some suppliers shipped their cargoes to east China for digestion. Both buyers and sellers showed low enthusiasm, and market activity was sluggish. In north China, the procurement sentiment for copper cathode was 1.48, down 0.11 from the previous trading day, while the selling sentiment was 1.52, down 0.14 from the previous trading day ().

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