Copper Prices Stop Falling and Stabilize; Copper Scrap Suppliers Hold Prices Firm While Selling [SMM Secondary Copper Daily Review]

Published: Sep 16, 2026 15:27

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SMM September 16

At 11:30 today, the futures closing price was 107,610 yuan/mt, up 290 yuan/mt from the previous trading day. The average spot premium was 645 yuan/mt, up 570 yuan/mt MoM from the previous trading day. Today, secondary copper prices rose 300 yuan/mt MoM. The secondary copper sales sentiment index rose to 2.67, and the purchase sentiment index rose to 1.95. The price difference between copper cathode and copper scrap was 2,221 yuan/mt, up 96 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 860 yuan/mt. According to the SMM survey, after the contract rollover, copper futures prices stopped falling and stabilized. Although secondary copper rod enterprises planned to purchase copper scrap for stocking demand, under the current low copper prices and low social inventory, copper scrap suppliers generally held prices firm, resulting in high raw material prices. Finished rod quotes from secondary copper rod enterprises also showed premiums. End-user purchase willingness was weak, and overall transactions across the upstream and downstream markets were mediocre.

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