End-user purchase willingness is sluggish, and North China spot discounts slightly weaken [SMM North China spot copper]

Published: Jul 14, 2026 11:23

Save

Today, spot #1 copper cathode in North China against the front-month contract was reported at an average discount of 70 yuan/mt to a premium of 10 yuan/mt, with an average discount of 30 yuan/mt, down 20 yuan/mt from the previous trading day. The average transaction price was 104,140 yuan/mt, up 900 yuan/mt from the previous trading day.

SMM July 14:

In North China today, spot #1 copper cathode prices against the front-month contract reported an average range from a discount of 70 yuan/mt to a premium of 10 yuan/mt, with an average discount of 30 yuan/mt, down 20 yuan/mt from the previous trading day. The average transaction price was 104,140 yuan/mt, up 900 yuan/mt from the previous trading day. Futures prices rose, and with the approaching contract rollover and high price spreads between futures contracts, downstream players generally opted to wait and see, resulting in scarce inquiries in the market. Suppliers' willingness to sell improved somewhat, but end-user buying was weak, and market trading remained sluggish, slightly weighing on spot premiums in North China. The purchasing sentiment for copper cathode in North China today was 1.84, down 0.2 from the previous trading day, and the selling sentiment was 2.47, up 0.12 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

33 mins ago

As delivery nears, some suppliers offload goods, shifting the center of Shanghai spot copper premiums lower overall [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, which is the last trading day of the SHFE copper 2607 contract, SMM will continue to quote against the front-month contract. The current open interest for the 2607 contract is around 4,500 lots. SHFE warrant data show that warrants stood at 47,158 mt on July 13, which is relatively ample and sufficient to cover delivery needs. Supply side, social inventory has been declining rapidly recently, mainly due to low arrivals of both domestic and imported cargoes, leaving the tightness in spot circulation unchanged. The backwardation price spread between contracts in adjacent months widened to 180-340 yuan/mt, and the front-month contract showed notable strength. Additionally, some suppliers have already attempted to quote for the 2608 contract today, with standard-quality copper at a premium of about 300 yuan/mt, reflecting that the market still holds optimistic expectations for premiums after the contract rollover. Overall, supported by the backwardation structure and driven by delivery-related dynamics, Shanghai spot copper prices against the 2607 contract are expected to remain at a premium tomorrow.

33 mins ago

46 mins ago

Copper prices recover, and copper scrap traders actively sell [SMM Secondary Copper Daily Review]

46 mins ago

1 hour ago

[Live] Analysis of Power Cable Development Patterns in the 15th Five-Year Plan, Copper and Aluminum Market Analysis, Exploring Opportunities in the Middle East and Africa, and Outlook for PV Enamelled Wire

► Impact Analysis of Energy and Power Development on the Wire and Cable Industry During the 15th Five-Year Plan Period ► Review of Copper and Aluminum Prices in H1 2026 and Analysis of New Variables in the Going Global Market ► Copper Futures and Spot Price Fluctuations and Current Status of the Wire and Cable Industry ► Application of Derivatives Tools by Copper Entity Enterprises ► Challenges and Opportunities Facing Distribution Networks Under New-Type Power Systems ► China’s Opportunities in the Power Transition of the Middle East and Africa: Supply Chains, Standards, and Localization ► Research and Development Trends of Copper-Based Thermal Management Materials ► Digital Transformation of Factories and Cost Reduction and Efficiency Gains Through Intelligent Manufacturing ► Towards 2030: Global PV End-Use Market Trend Outlook ► A Brief Analysis of the Enamelled Wire Industry

1 hour ago