End-user purchase showed weakness, and spot premiums gradually moved down [SMM North China spot copper]

Published: Aug 21, 2026 11:43

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In North China today, spot prices of #1 copper cathode against front-month contract were reported at an average ranging from parity to a premium of 130 yuan/mt, with an average premium of 65 yuan/mt, down 60 yuan/mt from the previous trading day; the average transaction price was 107,640 yuan/mt, up 415 yuan/mt from the previous trading day;

On August 21, SMM reported:

Today, spot prices against the front-month contract for #1 copper cathode in North China were reported at parity to a premium of 130 yuan/mt, with an average premium of 65 yuan/mt, down 60 yuan/mt from the previous trading day. The average transaction price was 107,640 yuan/mt, up 415 yuan/mt from the previous trading day. The futures stayed high, and downstream buyers turned cautious again, with weak demand and continuously declining purchase willingness. Suppliers' willingness to sell increased somewhat, but end-user purchases were poor, driving spot premiums in North China to continue to fall. Today, the purchase sentiment for copper cathode in North China was 1.19, down 0.03 from the previous trading day, and the shipment sentiment was 2.73, up 0.05 from the previous trading day. ().

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