Futures Came Under Significant Pressure and Pulled Back, While the Spot Price Spread Rebounded Sharply [SMM North China Spot Copper]

Published: Aug 18, 2026 11:16

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Today, in North China, spot prices against the front-month contract for #1 copper cathode were quoted at an average premium of 50 yuan/mt to a premium of 250 yuan/mt. The average premium of 150 yuan/mt increased by 320 yuan/mt from the previous trading day, while the average transaction price of 107,805 yuan/mt decreased by 1,690 yuan/mt from the previous trading day;

SMM News on August 18:

Today, in North China, spot prices of #1 copper cathode against the front-month contract were reported at an average premium of 50 yuan/mt to a premium of 250 yuan/mt. The average premium of 150 yuan/mt increased by 320 yuan/mt from the previous trading day, while the average transaction price of 107,805 yuan/mt decreased by 1,690 yuan/mt from the previous trading day. Futures pulled back sharply, boosting downstream purchase willingness to some extent. The market saw a small number of rigid-demand orders, but overall demand remained weak. Suppliers’ willingness to sell declined somewhat, market activity recovered slightly, and the spot copper price spread in North China was significantly repaired. Today, in North China, the purchase sentiment for copper cathode was 1.18, up 0.18 from the previous trading day, while the willingness to sell was 2.69, down 0.04 from the previous trading day. ().

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