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

Save

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 ().

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

16 mins ago

[SMM Analysis] 2026 Peru Copper Supply Outlook under the Keiko Fujimori Administration

Can Peru’s new government improve copper project execution? Fujimori’s government plan does not seek to redesign Peru’s mining regime, but rather to strengthen execution tools, including permitting, infrastructure, reinvestment incentives and revenue distribution. However, unless key constraints around communities, permitting, infrastructure and mature-mine depletion are materially addressed, Peru’s copper supply is unlikely to increase significantly in the short term.

16 mins ago

31 mins ago

[SMM Analysis] Outlook for Copper Mine Policy of Peru’s New Government in 2026: From Project Reserves to Supply Release, How Far to Go?

31 mins ago

53 mins ago

Zhengzhou Jinquan Mining and Metallurgy Equipment Co., Ltd. Supports SMM in Creating 《2027 Global Copper Mine and Smelter Distribution Map》

53 mins ago