Spot Delivery Settled, Trading Warms Up; North China Spot Copper Shifts from Discount to Premium [SMM North China Spot Copper]

Published: Oct 16, 2026 11:45 (GMT+8)

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In North China today, spot #1 copper cathode was quoted at premiums of 260-480 yuan/mt against the front-month contract, with an average premium of 370 yuan/mt, up 490 yuan/mt from the previous trading day. The average transaction price was 110,170 yuan/mt, down 125 yuan/mt from the previous trading day.

SMM, October 16:

Today in North China, spot #1 copper cathode was quoted at a premium of 260-480 yuan/mt against the front-month contract, with an average premium of 370 yuan/mt, up 490 yuan/mt from the previous trading day. The average transaction price was 110,170 yuan/mt, down 125 yuan/mt from the previous trading day. Futures stabilized, delivery was completed, and combined with the previous day's copper price pullback, downstream new orders increased somewhat. The procurement pace remained largely steady, and overall demand stabilized. Suppliers' willingness to sell edged up, market trading activity improved, and the spot copper basis in North China completed its repair and turned to a premium. Today, the procurement sentiment for copper cathode in North China was 2.02, unchanged from the previous trading day, while the selling sentiment was 2.89, up 0.02 from the previous trading day. ().

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