Arrivals increased, suppliers proactively lowered prices to sell, and spot trades were active [SMM South China Spot Copper].

Published: Jul 17, 2026 11:31

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SMM, July 17 –

Today, Guangdong #1 copper cathode spot prices against the front-month contract: high-quality copper was quoted at 120 yuan/mt, down 60 yuan/mt from the previous trading day; standard-quality copper was quoted at a premium of 50 yuan/mt, down 50 yuan/mt from the previous trading day; SX-EW copper was quoted at a discount of 10 yuan/mt, down 50 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 103,830 yuan/mt, down 350 yuan/mt from the previous trading day, and the average price of SX-EW copper was 103,735 yuan/mt, down 345 yuan/mt from the previous trading day.

Spot market: Guangdong inventory ended a two-day decline and edged up, mainly due to increased arrivals. Some suppliers, eager to cash in, took the initiative to cut prices to sell, causing premiums to drop significantly. Downstream users took advantage of the decline in both copper prices and premiums to increase procurement volumes, leading to active market transactions. Today, the procurement sentiment for copper cathode in Guangdong was 2.63, only up 0.16 from the previous trading day, while the selling sentiment was 2.93, up 0.02 from the previous trading day (historical data can be accessed in the database).

Overall, with increased arrivals, suppliers actively cut prices to sell, and spot trades were active.

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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