Weaker Copper Prices Spurred Downstream Restocking Sentiment, Spot Premiums Continued to Rise [SMM North China Spot Copper]

Published: Mar 6, 2026 11:18

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Today, in North China, spot #1 copper cathode prices against the front-month contract were at a discount of 250–130 yuan/mt. The average premium/discount rose by 90 yuan/mt from the previous trading day, while the average transaction price was 100,845 yuan/mt, down 455 yuan/mt from the previous trading day.

SMM News on March 6:

Today, in North China, spot prices against the front-month contract for #1 copper cathode were at a discount of 250 yuan/mt to a discount of 130 yuan/mt. The average premium/discount rose by 90 yuan/mt from the previous trading day, while the average transaction price of 100,845 yuan/mt fell by 455 yuan/mt from the previous trading day. Within the week, consumption demand warmed up noticeably. Today’s renewed weakness in copper prices stimulated downstream restocking sentiment, market activity picked up, and spot premiums moved higher. Today, in North China, the purchasing sentiment for copper cathode was 3.01, up 0.12 from the previous trading day, while the shipments sentiment was 2.45, down 0.04 from the previous trading day ().

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