Weakening Demand Under High Copper Prices, Spot Premiums Decline [SMM North China Spot Copper]

Published: May 13, 2026 11:30

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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 250 yuan/mt to a discount of 170 yuan/mt, with the average discount of 210 yuan/mt down 20 yuan/mt from the previous trading day. The average transaction price was 108,325 yuan/mt, up 1,790 yuan/mt from the previous trading day.

SMM May 13:

Today, #1 copper cathode spot prices against the front-month contract in North China averaged a discount of 250-170 yuan/mt, with the average discount of 210 yuan/mt down 20 yuan/mt from the previous trading day. The average transaction price was 108,325 yuan/mt, up 1,790 yuan/mt from the previous trading day. Copper prices continued to rise, while consumption weakened and demand expectations were poor, prompting some suppliers to lower prices to facilitate shipments. The copper cathode purchasing sentiment in North China today was 1.51, down 0.33 from the previous trading day, while the shipment sentiment was 2.33, up 0.14 from the previous trading day ().

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