Shanghai Copper Futures Prices Pulled Back, End-User Procurement Improved but Premiums Under Pressure

Published: Aug 19, 2026 10:30

Save

On August 19, the SHFE copper cathode 2609 contract price pulled back from the previous trading day, mainly trading within the range of 106,650 yuan/mt to 106,900 yuan/mt during the session. As the center of copper prices shifted lower, end-user procurement sentiment improved. According to SMM, recent order performance of some downstream enterprises improved significantly WoW, and purchase willingness for copper cathode subsequently strengthened. However, some warrant cargoes that were not matched for delivery began to flow into the spot market, exerting some downward pressure on spot premiums. While demand improved, the supply of spot circulating cargoes increased, downstream counteroffers were notable, and premiums came under some pressure.

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

20 mins ago

Downstream purchase willingness rebounded, spot price spread remained stable[SMM North China spot copper]

Today, spot #1 copper cathode in North China against the front-month contract was quoted at premiums ranging from 50 yuan/mt to 250 yuan/mt, with the average premium at 150 yuan/mt, unchanged from the previous trading day. The average transaction price was 106,870 yuan/mt, down 935 yuan/mt from the prior session;

20 mins ago

56 mins ago

China Recycling Meets You at SMM (3rd) South China Nonferrous Metals Annual Conference 2026

56 mins ago

1 hour ago

Minsur Advances Sumac Wayra Copper-Molybdenum Exploration in Peru

Minsur is advancing the Sumac Wayra greenfield copper-molybdenum exploration project in Ihuarí, Huaral province, in Peru’s Lima region. According to Peru’s Ministry of Energy and Mines, the project involves an estimated investment of around $7 million and is located at elevations of 1,600–3,000 metres. Copper is the main exploration target, with molybdenum as an associated mineral. The plan includes 109 drill holes across 28 drilling platforms, along with the reuse of nine existing platforms and auxiliary facilities. Minsur had previously planned around 15,000 metres of drilling at Sumac Wayra. The project remains at an early exploration stage, with work aimed at defining the characteristics and scale of potential mineralisation. It has no direct near-term impact on copper supply.

1 hour ago