Copper prices surge, copper scrap suppliers actively sell [SMM Secondary Copper Daily Review]

Published: Jul 22, 2026 15:31

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SMM July 22

At 11:30 today, the futures closing price was 106,340 yuan/mt, up 1,410 yuan/mt from the previous trading day. The average spot premium was 395 yuan/mt, down 75 yuan/mt from the previous trading day. The price of copper scrap rose 600 yuan/mt from the previous day. The sales sentiment index for copper scrap rose to 2.6, and the purchasing sentiment index rose to 2.35. The price difference between copper cathode and copper scrap was 4,444 yuan/mt, up 699 yuan/mt from the previous day. The price difference between copper cathode rod and secondary copper rod was 1,800 yuan/mt. According to the SMM survey, copper prices retreated after a rapid rise but remained at high levels. Suppliers of copper scrap actively sold goods, with even some copper scrap materials taking short positions in the market. Meanwhile, secondary copper rod enterprises, driven by arbitrage on the cathode-scrap price spread, purchased a considerable amount of copper scrap in the market, leading to relatively active transactions during the day.

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