Copper Prices Consolidate at Highs, Restraining Stockpiling Demand Before Peak Season [SMM Secondary Copper Daily Review]

Published: Aug 27, 2026 14:59

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SMM August 27

At 11:30 today, the futures closing price was 108,970 yuan/mt, down 470 yuan/mt from the previous trading day. The average spot premium was 450 yuan/mt, up 140 yuan/mt from the previous trading day. Copper scrap prices fell 100 yuan/mt from the previous trading day. The copper scrap sales sentiment index dropped to 2.82, while the procurement sentiment index rose to 1.75. The price difference between copper cathode and copper scrap stood at 4,844 yuan/mt, down 217 yuan/mt from the previous trading day. The price difference between copper cathode rod and secondary copper rod was 1,750 yuan/mt. According to the SMM survey, copper prices edged down. Trading in the copper scrap market was almost identical to yesterday. With the peak season approaching, secondary copper rod enterprises saw mediocre order-taking performance, and high copper prices may dampen peak-season consumption demand.

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