Inventory continues to decline, suppliers hold prices firm and sell. Overall trading is moderate. [SMM South China spot copper]

Published: Aug 26, 2026 11:34

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SMM August 26 news:

In Guangdong today, spot prices for #1 copper cathode against the front-month contract: high-quality copper was quoted at a premium of 250 yuan/mt, flat from the previous trading day; standard-quality copper was quoted at a premium of 160 yuan/mt, up 10 yuan/mt from the previous trading day; SX-EW copper was quoted at a premium of 100 yuan/mt, up 10 yuan/mt from the previous trading day. The average price of #1 copper cathode in Guangdong was 109,205 yuan/mt, up 700 yuan/mt from the previous trading day, and the average price of SX-EW copper was 109,100 yuan/mt, up 705 yuan/mt from the previous trading day.

Spot market: Inventory in Guangdong fell for seven consecutive days, mainly due to reduced arrivals. Despite a notable rise in copper prices, available cargo in the market was limited. Suppliers continued to hold prices firm and sell, leaving downstream users with no choice but to accept the high-premium cargo. In Guangdong today, the purchase sentiment for copper cathode was 2.85, down 0.04 from the previous trading day, while the sell sentiment was 2.91, up 0.03 from the previous trading day (historical data can be queried by logging into the database).

Overall, inventory continued to decline, suppliers held prices firm and sold, and overall trading was average.

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.

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