Contract rollover pressure persists, spot discounts deepen [SMM North China spot copper]

Published: Oct 14, 2026 11:21 (GMT+8)

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Spot copper in North China was quoted at a discount of 400-250 yuan/mt against the front-month contract, with an average discount of 325 yuan/mt, down 15 yuan/mt from the previous trading day. The average transaction price was 111,225 yuan/mt, up 165 yuan/mt from the previous trading day.

SMM, October 14:

Today, spot #1 copper cathode in North China was quoted at a discount of 400-250 yuan/mt against the front-month contract, with an average discount of 325 yuan/mt, down 15 yuan/mt from the previous trading day. The average transaction price was 111,225 yuan/mt, up 165 yuan/mt from the previous trading day. Futures remained stable, and with contract rollover approaching, suppliers' willingness to sell stayed high. Downstream buyers remained on the sidelines, end-use demand was weak, and the market saw only a small amount of need-based transactions. Spot discounts for copper in North China continued to deepen. Today, the procurement sentiment for copper cathode in North China was 1.89, up 0.12 from the previous trading day, while the selling sentiment was 2.92, up 0.07 from the previous trading day. ().

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