Copper Prices Rise Suppressing Consumption, Spot Premiums Run at Low Levels [SMM North China Spot Copper]

Published: Jun 2, 2026 11:25

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Today, #1 copper cathode spot prices in North China against the front-month contract were reported at a discount of 360 yuan/mt to a discount of 300 yuan/mt, with an average discount of 330 yuan/mt, down 10 yuan/mt from the previous trading day. The average transaction price was 105,535 yuan/mt, up 1,020 yuan/mt from the previous trading day.

SMM June 2 update:

Today in North China, #1 copper cathode spot prices against the front-month contract were reported at an average discount of 360 yuan/mt to a discount of 300 yuan/mt, with the average discount of 330 yuan/mt down 10 yuan/mt from the previous trading day, and the average transaction price at 105,535 yuan/mt, up 1,020 yuan/mt from the previous trading day. As copper prices strengthened, already weak consumption was further suppressed, market demand remained poor, and spot premiums were under pressure, running at low levels. Today in North China, the copper cathode purchasing sentiment was 1.19, down 0.14 from the previous trading day, and the shipments sentiment was 2.02, up 0.01 from the previous trading day ().

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