Copper prices shifted lower in the afternoon; scrap utilization enterprises placed limited orders at selected prices [SMM Secondary Copper Daily Review]

Published: Oct 19, 2026 15:51 (GMT+8)

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SMM October 19

At 11:30 today, futures closing price was 109,900 yuan/mt, down 270 yuan/mt from the previous trading day. Spot premiums averaged 710 yuan/mt, down 115 yuan/mt MoM from the previous trading day. Today, secondary copper raw material prices remained unchanged MoM. The sales sentiment index for secondary copper raw materials rose to 2.55, and the procurement sentiment index rose to 2.04. The price difference between copper cathode and copper scrap was 3,139 yuan/mt, down 385 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 610 yuan/mt. According to the SMM survey, copper prices stabilized, and secondary copper rod enterprises mostly made just-in-time procurement. In the afternoon, futures price center shifted lower, and many secondary copper raw material traders priced copper scrap previously stored at scrap utilization enterprises. Scrap utilization enterprises accepted more secondary copper raw material than their procurement plans, so they suspended pricing for traders. Intraday secondary copper raw material transactions were mainly led by traders.

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