Copper Prices Center Shifted Upward, Downstream Buyers Mainly Made Just-in-Time Procurement [SMM North China Spot Copper]

Published: May 07, 2026 11:26 (GMT+8)

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Today, #1 copper cathode spot prices in North China against the front-month contract were reported at an average discount of 200 yuan/mt to a discount of 100 yuan/mt, with the average discount of 150 yuan/mt unchanged from the previous trading day. The average transaction price was 102,630 yuan/mt, up 350 yuan/mt from the previous trading day.

SMM May 7 News:

Today, spot prices of #1 copper cathode in North China against the front-month contract averaged a discount of 200 yuan/mt to a discount of 100 yuan/mt, with the average discount of 150 yuan/mt unchanged from the previous trading day, and the average transaction price at 102,630 yuan/mt, up 350 yuan/mt from the previous trading day. As copper prices moved higher, downstream buyers mainly made just-in-time procurement, while some suppliers cleared inventory after the holiday, keeping spot premiums under pressure. Today, the procurement sentiment for copper cathode in North China was 1.95, down 0.03 from the previous trading day, and the shipments sentiment was 2.27, down 0.25 from the previous trading day ().

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