Road transport logistics have basically ceased, and the market is expected to enter a holiday state. [SMM North China Spot Copper]

Published: Feb 11, 2026 11:27

Save

Spot prices of #1 copper cathode against the front-month contract in North China today were at a discount of 380-160 yuan/mt, with an average discount of 270 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices ranged from 100,820-101,370 yuan/mt, with an average of 101,095 yuan/mt, down 365 yuan/mt from the previous trading day.

SMM February 11:

Today in North China, spot #1 copper cathode against the front-month contract was at a discount of 380-160 yuan/mt, with an average discount of 270 yuan/mt, down 10 yuan/mt from the previous trading day. Transaction prices were 100,820-101,370 yuan/mt, with an average of 101,095 yuan/mt, down 365 yuan/mt from the previous trading day. Road logistics were largely suspended today, and the market was expected to enter a holiday state, with sporadic transactions. The procurement sentiment for copper cathode in North China was 1.21, down 0.41 from the previous trading day, while the shipment sentiment was 1.24, down 0.43 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

1 hour ago

Approaching the Chinese New Year, spot copper cathode transactions in Henan tightened.

As the Chinese New Year holiday approached, downstream enterprises in Henan had completed pre-holiday stockpiling based on order situations and holiday arrangements. Coupled with tightening logistics capacity, trading in the spot market was sluggish.

1 hour ago

Why the US Has Amassed a Giant Copper Stockpile

The US has quietly built its largest copper stockpile in decades, distorting global flows and tightening available supply. COMEX-approved inventories have soared to roughly 534,000 metric tonnes. Including off-exchange holdings, total stocks may be ~1 million tonnes, roughly equal to the annual output of the world’s largest copper mine. Higher US inventories have helped boost prices and tighten global supply.

1 hour ago

Copper Eases as China Demand Growth Slows and Shanghai Speculation Retreats

Copper and broader base metals have eased from recent highs as China’s share of global metal demand growth has declined significantly compared to pre-pandemic years and speculative positions in Shanghai unwound. Shanghai futures briefly hit record highs above RMB 114,000/t, but open interest and prices have since fallen, also pushing down London prices.

1 hour ago