Downstream restocking gradually releases; spot premiums rise significantly [SMM North China spot copper]

Published: Sep 16, 2026 11:23

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Spot copper cathode in North China was quoted at a premium of 400-500 yuan/mt against the front-month contract today, with an average premium of 450 yuan/mt, up 550 yuan/mt from the previous trading day. The average transaction price was 107,835 yuan/mt, up 390 yuan/mt from the previous trading day.

SMM, September 15:

Today, spot #1 copper cathode in North China was quoted at a premium of 400-500 yuan/mt against the front-month contract, with an average premium of 450 yuan/mt, up 550 yuan/mt from the previous trading day. The average transaction price was 107,835 yuan/mt, up 390 yuan/mt from the previous trading day. As futures stabilized, downstream purchase willingness recovered, and restocking demand was gradually released. Suppliers' willingness to sell pulled back slightly, driving spot premiums in North China to rise notably, while market trading activity remained basically stable. Today, the purchase sentiment for copper cathode in North China was 1.28, up 0.02 from the previous trading day, and the selling sentiment was 2.75, down 0.04 from the previous trading day. ().

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