Copper prices pull back slightly and weaken, while month-end downstream wait-and-see keeps discounts steady [SMM North China Spot Copper]

Published: Jun 30, 2026 11:25

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Today in North China, spot #1 copper cathode against the front-month contract was reported at an average discount of 170 yuan/mt to 110 yuan/mt, with an average discount of 140 yuan/mt, unchanged from the previous trading day. The average transaction price was 102,060 yuan/mt, down 250 yuan/mt from the previous trading day.

SMM June 30:

Today, spot #1 copper cathode in North China was quoted at discounts of 170–110 yuan/mt against the front-month contract, with an average discount of 140 yuan/mt, unchanged from the previous trading day. The average transaction price was 102,060 yuan/mt, down 250 yuan/mt from the previous trading day. Futures edged lower amid month-end closing. Downstream enterprises generally held a wait-and-see sentiment, with sluggish purchasing interest. Suppliers did not engage in concentrated selling, overall market trading was sluggish, and the spot discount range remained stable. Today, purchasing sentiment for copper cathode in North China stood at 2.41, down 0.06 from the previous trading day, while shipment sentiment was 2.55, up 0.04 ().

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