End-use demand shows no improvement yet, tight supply and holding prices firm push up spot copper discounts in North China [SMM North China Copper Spot]

Published: Jul 8, 2026 11:30

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In North China, spot #1 copper cathode was quoted at a discount of 80 yuan/mt to parity against the front-month contract today, with an average discount of 40 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 102,820 yuan/mt, down 215 yuan/mt from the previous trading day.

SMM July 8 —

Today, spot #1 copper cathode in North China against the front-month contract was reported at an average discount ranging from 80 yuan/mt to parity, with an average discount of 40 yuan/mt, up 20 yuan/mt from the previous trading day. The average transaction price was 102,820 yuan/mt, down 215 yuan/mt from the previous trading day. Downstream procurement pace remained flat compared to yesterday, with only sporadic purchases for essential needs; suppliers held prices firm with steady sentiment, available spot cargoes in the market were limited, and spot discounts continued to narrow. Overall market trading activity showed mediocre performance. Today, North China copper cathode procurement sentiment was 2.41, unchanged from the previous trading day, and shipment sentiment was 2.42, down 0.02 from the previous trading day ().

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