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

Published: Jul 14, 2026 11:23

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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 ( ).

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