Procurement sentiment continues to decline, with weak demand dragging down spot premiums [SMM North China spot copper]

Published: Jul 23, 2026 11:49

Save

Today, spot #1 copper cathode in North China against the front-month contract was quoted at premiums of 80 yuan/mt to 130 yuan/mt, with an average premium of 105 yuan/mt, down 55 yuan/mt from the previous trading day. The average transaction price was 106,270 yuan/mt, down 140 yuan/mt from the previous trading day.

SMM July 23 News:

Today, spot premiums for #1 copper cathode in North China against the front-month contract averaged between 80 yuan/mt and 130 yuan/mt, with an average premium of 105 yuan/mt, down 55 yuan/mt from the previous trading day. The average transaction price was 106,270 yuan/mt, a decline of 140 yuan/mt from the previous trading day. Futures moved sideways within a narrow range, end-use demand remained sluggish, downstream processing enterprises showed limited willingness to produce, and procurement sentiment weakened further. Suppliers' willingness to sell improved somewhat, but the lack of buying interest from end-users led to further weakening of spot premiums in North China. The procurement sentiment index for copper cathode in North China stood at 1.51, down 0.13 from the previous trading day, while the sales sentiment index was 2.78, up 0.09 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

3 mins ago

H1 China's copper plate/sheet and strip exports recorded a cumulative YoY increase of 18.02%.

In H1 2026, China's copper plate/sheet and strip exports continued the strong momentum seen since 2025, with each month maintaining double-digit positive YoY growth, and overall exhibiting a pace of "strong start before Chinese New Year, accelerated surge after the holiday, and continuous volume expansion in Q2." From January to June, China's copper plate/sheet and strip industry achieved a cumulative YoY growth of 18.02%, laying a solid foundation for high growth throughout the year. With the continuous enhancement of international market recognition and the expansion pace of overseas new energy installations and power grid infrastructure investment, the prosperity of copper plate/sheet and strip exports will stay high in H2.

3 mins ago

8 mins ago

[Live] Copper and Aluminum Wire and Cable Market Outlook, Analysis of Reverse Invoicing Tax Policy Situation, and Interpretation of Derivatives Risk Control and AI Computing Power Industry Opportunities

8 mins ago

23 mins ago

2026 Copper Plate/Sheet and Strip Export Review and Outlook: H1 18.02% Growth Lays Foundation for the Full Year, Purple Copper Up, Brass Down Pattern Solidifies, Emerging Sectors Support Export Resilience [SMM Analysis]

In H1 2026, China's exports of copper plate/sheet and strip sustained the strong momentum that began in 2025, with each month recording double-digit YoY growth, overall showing...

23 mins ago