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Home / Metal News / Rising Copper Prices Dampen Downstream Purchasing Sentiment, Spot Premiums/Discounts Decline [SMM North China Spot Copper]

Rising Copper Prices Dampen Downstream Purchasing Sentiment, Spot Premiums/Discounts Decline [SMM North China Spot Copper]

iconJan 26, 2026 11:23
Spot prices of #1 copper cathode in North China against the front-month contract were at a discount of 500-360 yuan/mt today, with an average discount of 430 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices ranged from 102,000 to 102,470 yuan/mt, with an average of 102,235 yuan/mt, up 1,635 yuan/mt from the previous trading day.

SMM January 26 News:

In North China today, spot prices of #1 copper cathode against the front-month contract were at a discount of 500-360 yuan/mt, with an average discount of 430 yuan/mt, down 20 yuan/mt from the previous trading day. Transaction prices were 102,000-102,470 yuan/mt, with an average of 102,235 yuan/mt, up 1,635 yuan/mt from the previous trading day. The rebound in copper prices dampened downstream purchasing sentiment, putting further pressure on spot premiums/discounts and weakening them. In North China today, the purchasing sentiment for copper cathode was 1.45, down 0.03 from the previous trading day, while the selling sentiment was 1.68, up 0.16 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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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