Copper Prices Stop Falling; Secondary Copper Rod Enterprises Purchase Actively [SMM Secondary Copper Daily Review]

Published: Sep 15, 2026 14:49

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SMM September 15

At 11:30 today, the futures closing price was 107,320 yuan/mt, down 920 yuan/mt from the previous trading day. The average spot premium was 75 yuan/mt, up 85 yuan/mt MoM from the previous trading day. Today, secondary copper raw material prices fell 600 yuan/mt MoM. The secondary copper raw material sales sentiment index dropped to 2.66, while the purchasing sentiment index rose to 1.85. The price difference between copper cathode and copper scrap was 2,125 yuan/mt, down 356 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 300 yuan/mt. According to the SMM survey, after copper prices opened lower with a gap, they consolidated. Secondary copper rod enterprises bought the dip to restock, but holders of secondary copper raw materials showed weak willingness to sell. Purchases were mainly used for earlier deliveries, and market transactions were mediocre.

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