Sharp Decline in Copper Prices Stimulated Downstream Demand, Suppliers Held Prices Firm [SMM North China Spot Copper]

Published: Mar 19, 2026 11:18

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Today, spot #1 copper cathode in North China was quoted at a discount of 40 yuan/mt to a premium of 40 yuan/mt against the front-month contract, with the average premium/discount at parity, up 60 yuan/mt from the previous trading day. The average transaction price was 95,645 yuan/mt, down 3,375 yuan/mt from the previous trading day.

SMM News, March 19:

Today, spot #1 copper cathode in North China was quoted at discounts of 40 yuan/mt to premiums of 40 yuan/mt against the front-month contract, with the average price at parity, up 60 yuan/mt from the previous trading day. The average transaction price was 95,645 yuan/mt, down 3,375 yuan/mt from the previous trading day. Copper prices plunged, stimulating downstream demand. Supply in the North China market was relatively tight, giving suppliers sentiment to hold prices firm, and spot premiums rose sharply. Today, the procurement sentiment for copper cathode in North China was 3.37, up 0.52 from the previous trading day, and shipment sentiment was 2.88, up 0.36 from the previous trading day ().

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