Copper Price Declines Boost Demand, Spot Premiums Rise for a Fifth Straight Session [SMM North China Spot Copper]

Published: Mar 9, 2026 11:12

Save

Today, spot prices of #1 copper cathode in North China against the front-month contract ranged from a discount of 180 yuan/mt to a discount of 80 yuan/mt. The average price increased by 60 yuan/mt from the previous trading day, while the average transaction price of 99,395 yuan/mt decreased by 1,450 yuan/mt from the previous trading day.

SMM News on March 9:

Today, in North China, spot #1 copper cathode prices against the front-month contract were at a discount of 180 yuan/mt to a discount of 80 yuan/mt. The average price rose by 60 yuan/mt from the previous trading day, while the average transaction price of 99,395 yuan/mt fell by 1,450 yuan/mt from the previous trading day. As copper prices fell below the 100,000 yuan/mt threshold, market consumption demand was clearly boosted, market activity picked up, spot cargo in the north tightened, and spot premiums rose consecutively. Today, in North China, the procurement sentiment for copper cathode was 3.52, up 0.51 from the previous trading day, and the shipments sentiment was 2.94, up 0.49 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 to learn 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

1 min ago

China's Copper Ore Imports Down 11.97% MoM, Up 5.84% YoY in February 2026

General Administration of Customs: In February 2026, China imported 2.31 million dmt of copper ore and concentrate, a decrease of 11.97% month-on-month and an increase of 5.84% year-on-year. The cumulative imports in January-February increased by 4.9%.

1 min ago

China's Jan 2026 Copper Ore Imports Down 2.96% MoM, Up 3.72% YoY

General Administration of Customs: In January 2026, China imported 2.624 million dmt of copper ores and concentrates, a decrease of 2.96% month-on-month and an increase of 3.72% year-on-year.

1 min ago

47 mins ago

As Delivery Approaches, the Price Spread Between Futures Contracts Widens; SHFE Copper Spot Premiums Shift from a Discount to Flat [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] As the delivery period approaches, spot discounts for SHFE copper are expected to continue narrowing steadily. From the perspective of market structure, the inter-month contango price spread between futures contracts has widened, significantly strengthening suppliers’ willingness to ship to delivery warehouses. In particular, inventory in Jiangsu is mainly in the form of warrants, and suppliers tend to opt for delivery rather than spot sales, resulting in persistently tight availability of deliverable spot cargo. In addition, spot premiums quotes in Jiangsu are slightly higher than those in Shanghai. Against this backdrop, suppliers showed a strong willingness to hold prices firm intraday, and quotes in the second session were raised slightly, making procurement more difficult for some downstream enterprises. Looking ahead to tomorrow, under delivery-driven dynamics, spot premiums in Shanghai are expected to remain at current levels.

47 mins ago