Futures Shot Up as Supply Tightened; North China Copper Cathode Premiums Edged Up [SMM North China Spot Copper]

Published: Aug 26, 2026 11:26

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Today, in North China, spot #1 copper cathode prices against the front-month contract were quoted at parity to a premium of 140 yuan/mt. The average premium was 70 yuan/mt, an increase of 35 yuan/mt from the previous trading day, and the average transaction price was 109,335 yuan/mt, an increase of 1,110 yuan/mt from the previous trading day;

SMM News on August 26:

Today, in North China, spot #1 copper cathode prices against the front-month contract were reported at parity to a premium of 140 yuan/mt, with the average premium at 70 yuan/mt, an increase of 35 yuan/mt from the previous trading day. The average transaction price was 109,335 yuan/mt, up 1,110 yuan/mt from the previous trading day. Futures shot up again, downstream wait-and-see sentiment intensified, and the market saw only just-in-time procurement. Available supply in the market tightened, and suppliers’ willingness to hold prices firm increased, pushing spot premiums in North China slightly higher. Today, the copper cathode procurement sentiment in North China was 1.18, down 0.01 from the previous trading day, while shipment sentiment was 2.71, down 0.04 from the previous trading day. ().

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