Copper Prices Pull Back, Market Sentiment Turns Cautious [SMM Secondary Copper Daily Commentary]

Published: Jul 13, 2026 14:51

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SMM July 13

At 11:30 today, the futures closing price was 103,160 yuan/mt, down 910 yuan/mt from the previous trading day. The average spot premium was 215 yuan/mt, up 60 yuan/mt from the previous trading day. Today, copper scrap prices dropped 500 yuan/mt from the previous trading day. The sales sentiment index for copper scrap fell to 2.37, while the procurement sentiment index rose to 2.33. The price difference between copper cathode and copper scrap stood at 2,445 yuan/mt, down 272 yuan/mt from the previous trading day. The price difference between copper cathode rod and secondary copper rod was 970 yuan/mt. According to SMM survey, copper prices pulled back, and copper scrap suppliers' willingness to sell weakened. Secondary copper rod enterprises found it difficult to source low-priced cargoes during the day, leading to relatively sluggish overall market trading.

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