Futures strengthen and supply tightens, premiums rise sharply [SMM North China spot copper]

Published: Sep 18, 2026 11:32

Save

Spot #1 copper cathode in North China was quoted at a premium of 500-580 yuan/mt against the front-month contract today, with an average premium of 540 yuan/mt, up 110 yuan/mt from the previous trading day. The average transaction price was 110,005 yuan/mt, up 1,510 yuan/mt from the previous trading day.

SMM, September 18:

In North China today, spot prices of #1 copper cathode against the front-month contract were reported at a premium of 500-580 yuan/mt, with an average premium of 540 yuan/mt, up 110 yuan/mt from the previous trading day. The average transaction price was 110,005 yuan/mt, up 1,510 yuan/mt from the previous trading day. Futures rose sharply, spot supply was tight, and suppliers held prices firm while holding back from selling. Downstream purchase willingness continued to recover, and restocking demand was released, boosting spot premiums for copper cathode in North China significantly, with market trading activity improving. Today, the purchase sentiment for copper cathode in North China was 2.01, up 0.55 from the previous trading day, while the shipment sentiment was 2.35, down 0.42 from the previous trading day. ().

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

Copper Prices Rebound Sharply: Bad News Fully Priced In, or Fundamentals Reasserting Themselves?

22 hours ago

Doosan Invests $701.5M to Expand CCL Production in Korea and China Through 2028

Doosan Group said on September 17 that it will invest approximately KRW 968.4 billion (about USD 701.5 million) to expand high-end copper-clad laminate (CCL) production in South Korea and China. Roughly KRW 421 billion will expand domestic CCL lines for optical modules, while about KRW 547.4 billion will build a new plant in Changshu, China, for AI accelerators and network switches via wholly-owned Doosan Electro-Materials Changshu, with an additional KRW 182.4 billion capital injection. The three-year investment runs through 2028, with new lines scheduled to begin operations in the second half of 2028. In H1 2026, utilization at Doosan's Jeungpyeong and Gimcheon plants reached 109.8% and 102.7%, respectively, while the China plant ran at 92.2%. Q2 2026 optical-module CCL sales jumped more than tenfold year-on-year to about KRW 50 billion, and network-board CCL sales reached KRW 369.2 billion, accounting for more than half of the Electronics Business Group's revenue.

22 hours ago

23 hours ago

Copper Cathode Rod Orders Expand, Inventories Decline; Production to Increase 2.31% WoW

[SMM Copper Cathode Rod Flash] New orders continued to expand, and with the holiday approaching, finished product inventories destocked at a faster pace. Production willingness at copper cathode rod enterprises strengthened, and the operating rate is expected to rise 2.31 percentage points WoW next week.

23 hours ago