High Prices Curb Demand, Spot Premiums Narrow Slightly [SMM North China Spot Copper]

Published: Sep 1, 2026 11:23

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In North China today, spot #1 copper cathode was quoted at a premium of 50-210 yuan/mt against the front-month contract, with an average premium of 130 yuan/mt, down 30 yuan/mt from the previous trading day. The average transaction price was 110,055 yuan/mt, up 1,095 yuan/mt from the previous trading day.

SMM, September 1:

Today, spot #1 copper cathode in North China was quoted at a premium of 50-210 yuan/mt against the front-month contract, with an average premium of 130 yuan/mt, down 30 yuan/mt from the previous trading day. The average transaction price was 110,055 yuan/mt, up 1,095 yuan/mt from the previous trading day. On the first trading day of September, futures shot up, downstream purchase willingness weakened notably, and demand was sluggish. Suppliers' willingness to sell picked up somewhat, but high copper prices suppressed the pace of end-user purchases, market trading activity declined, and spot premiums for copper cathode in North China edged down. Today, the purchase sentiment for copper cathode in North China was 1.29, down 0.04 from the previous trading day, while the willingness to sell was 2.53, up 0.06 from the previous trading day. ().

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