Dragon Boat Festival holiday approaching, upstream suppliers offer discounts to sell, spot premiums decline [SMM North China spot copper]

Published: Jun 18, 2026 11:15

Save

Today in North China, spot #1 copper cathode against the front-month contract was quoted at a discount of 270-150 yuan/mt, averaging a discount of 210 yuan/mt, down 40 yuan/mt from the previous trading day. The average transaction price was 104,655 yuan/mt, down 500 yuan/mt from the previous trading day.

SMM June 18 –

In North China, spot #1 copper cathode prices against the front-month contract were reported at discounts ranging from 270 yuan/mt to 150 yuan/mt, with an average discount of 210 yuan/mt, down 40 yuan/mt from the previous trading day. The average transaction price was 104,655 yuan/mt, down 500 yuan/mt from the previous trading day. On the last trading day before the holiday, downstream users engaged in need-based stockpiling, while traders worried about post-holiday inventory buildup and offered discounts to sell, causing spot premiums to weaken. Today, North China's purchasing sentiment for copper cathode was 2.23, up 0.22 from the previous trading day, and shipment sentiment was 2.25, up 0.57 ().

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 for 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

7 hours ago

Fed's Hawkish Stance Shatters Market, Triggers Drastic Repricing of Interest Rates

The substantial strengthening of the US Fed's hawkish stance and severe warnings from former senior officials are completely shattering the market's dovish fantasies, triggering a drastic repricing of interest rate derivatives and the spot market.

7 hours ago

8 hours ago

Hudbay Minerals Breaks Ground on New Ingerbelle Expansion at Copper Mountain Mine, Extending Life to 2040

Hudbay Minerals held a formal groundbreaking ceremony on Tuesday for the New Ingerbelle expansion project at its Copper Mountain Mine in British Columbia, Canada.The New Ingerbelle expansion is expected to extend the Copper Mountain Mine’s life beyond 2040, improve operational efficiency, and support long-term copper production.The expansion is designed to mine a higher-grade mineralized zone with a stripping ratio approximately one-third that of the current mining area.Based on existing reserve estimates, the New Ingerbelle project is expected to produce approximately 750,000 mt of copper, 900,000 ounces of gold, and 5.5 million ounces of silver over the remaining mine life.

8 hours ago

Oyu Tolgoi Resumes Copper Concentrate Shipments After Protest Blockade Ends

Rio Tinto’s Oyu Tolgoi gold-copper mine in Mongolia announced on social media the resumption of copper concentrate shipments. The mine had announced the previous day that from 9 a.m. local time on June 17, civil groups blocked a concentrate transport route at the mine, causing a halt to planned concentrate shipments. Oyu Tolgoi is one of the world’s most important copper mine projects and is critical to Rio Tinto’s copper sales growth strategy. The mine is still ramping up to operate at full capacity and is expected to become the world’s fourth-largest operating copper mine. Meanwhile, the project is also vital to Mongolia’s economy, with its exports accounting for a significant portion of the country’s GDP.

8 hours ago