Copper Prices Recover, Marginal Improvement in Demand for Copper Scrap [SMM Secondary Copper Daily Review]

Published: Sep 18, 2026 15:31 (GMT+8)

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SMM September 18

At 11:30 today, futures closing price was 109,500 yuan/mt, up 1,130 yuan/mt from the previous trading day. Spot premiums averaged 735 yuan/mt, up 105 yuan/mt MoM from the previous trading day. Secondary copper raw material prices rose 800 yuan/mt MoM today. The secondary copper raw material sales sentiment index rose to 2.71, while the purchase sentiment index fell to 1.91. The price difference between copper cathode and copper scrap was 2,936 yuan/mt, up 315 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,540 yuan/mt. According to SMM survey, copper prices continued to recover, and secondary copper raw material suppliers' shipment sentiment improved. However, with secondary copper rod prices forced into premiums by high raw material prices, end-user wire and cable enterprises showed very weak purchase willingness. With insufficient new orders for secondary copper rod, purchases of high-priced raw materials were limited.

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