No Improvement in Consumption, Spot Premiums Under Pressure [SMM North China Spot Copper]

Published: May 19, 2026 11:24

Save

Today in North China, spot #1 copper cathode prices against the front-month contract were reported at an average discount of 300 yuan/mt to a discount of 200 yuan/mt, with the average discount of 250 yuan/mt down 10 yuan/mt from the previous trading day. The average transaction price was 104,075 yuan/mt, up 140 yuan/mt from the previous trading day.

SMM May 19 update:

Today, spot #1 copper cathode prices in North China against the front-month contract were reported at a discount of 300 yuan/mt to a discount of 200 yuan/mt, with the average discount at 250 yuan/mt, down 10 yuan/mt from the previous trading day. The average transaction price was 104,075 yuan/mt, up 140 yuan/mt from the previous trading day. After copper prices pulled back rapidly from highs, downstream buyers adopted a wait-and-see sentiment, with no notable improvement in consumption, and spot premiums remained under pressure. Today, the purchasing sentiment for copper cathode in North China was 1.82, down 0.16 from the previous trading day, while the shipments sentiment was 2.45, down 0.13 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

6 mins ago

Copper Prices Remain High Despite Retreat; Major Plant Plans Shutdown Due to Inventory Buildup

[SMM Shanghai Spot Copper] According to SMM, although copper prices retreated after rapid rise, they still stayed high. End-user cargo pick-up speed slowed down, and affected by the buildup of finished product inventories, a large copper semis processing plant in east China planned to shut down all furnaces for maintenance.

6 mins ago

19 mins ago

China's Copper Cathode Trade: Exports Drop, Imports Rise in April 2026

[China's Copper Cath[China's Copper Cathode Imports and Exports in April 2026] According to customs data, China's copper cathode exports in April 2026 totaled 25,600 mt, down 56.01% MoM and 67.05% YoY, with cumulative exports up 30.84% YoY. China's copper cathode imports in April 2026 totaled 270,500 mt, up 15.27% MoM and 8.19% YoY, with cumulative imports down 21.10% YoY.

19 mins ago

21 mins ago

High Copper Prices Suppress End-Use Demand, Some Copper Semis Processors Plan Furnace Shutdown for Maintenance [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper][SMM Shanghai Spot Copper] Looking ahead to tomorrow, demand side, according to SMM, although copper prices retreated after a rapid rise, absolute prices remained at high levels. End-user cargo pick-up pace slowed down. Affected by the accumulation of finished product inventories, some copper semis processing plants in east China opted to shut down furnaces for maintenance or close part of their production lines to reduce the capital occupation risk caused by high finished product inventories. Overall, amid weak demand, Shanghai spot copper premiums against the 06 contract are expected to remain at a discount tomorrow, or widen slightly.

21 mins ago