Copper Prices Pulled Back Consecutively, Downstream Buyers Remained Cautious Due to High Prices [SMM North China Spot Copper]

Published: May 18, 2026 11:28

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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 300 yuan/mt to a discount of 180 yuan/mt, with the average discount of 240 yuan/mt up 30 yuan/mt from the previous trading day. The average transaction price was 103,935 yuan/mt, down 1,440 yuan/mt from the previous trading day.

SMM May 18 News:

Spot prices of #1 copper cathode in North China against the front-month contract averaged a discount of 300 yuan/mt to a discount of 180 yuan/mt, with the average discount of 240 yuan/mt up 30 yuan/mt from the previous trading day. The average transaction price was 103,935 yuan/mt, down 1,440 yuan/mt from the previous trading day. Entering the mid-to-late period of this month, some suppliers shipped out cargoes ahead of schedule. On the demand side, the continuous pullback in copper prices caused fear of high prices among some downstream enterprises, who adopted a wait-and-see attitude. The purchasing sentiment for copper cathode in North China was 1.98, up 0.32 from the previous trading day, while the shipments sentiment was 2.58, up 0.09 from the previous trading day ().

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