End-use consumption struggles to improve, and secondary copper rod enterprises mainly rely on just-in-time procurement [SMM Secondary Copper Daily Review]

Published: Jul 8, 2026 14:57

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SMM July 8

At 11:30 today, the futures closing price was 103,040 yuan/mt, up 60 yuan/mt from the previous trading day. The average spot premiums stood at 135 yuan/mt, up 25 yuan/mt from the previous trading day. Today, copper scrap prices remained unchanged from the previous trading day. The sales sentiment index for copper scrap rose to 2.31, while the purchasing sentiment index rose to 2.39. The price spread between copper cathode and copper scrap was 1,778 yuan/mt, up 85 yuan/mt from the previous trading day. The price spread between copper cathode rod and secondary copper rod was 720 yuan/mt. According to SMM survey, copper prices only edged up during the day. Although the price spread between copper cathode rod and secondary copper rod widened slightly, it remained below the favorable line. Secondary copper rod enterprises also indicated that no customers had placed orders in recent days, and new orders were insufficient. Their purchasing attitude towards copper scrap was to buy on dips and pick up bargains.

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.

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