Month-End Consumption Weakened as Suppliers Cut Prices for Shipments, but Trading Remained Sluggish [SMM South China Spot Copper]

Published: May 27, 2026 11:38

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SMM May 27 News:

Guangdong #1 copper cathode spot prices against the front-month contract today: high-quality copper was quoted at a premium of 130 yuan/mt, down 30 yuan/mt from the previous trading day; standard-quality copper was quoted at a premium of 60 yuan/mt, down 20 yuan/mt from the previous trading day; SX-EW copper was quoted at a discount of 10 yuan/mt, down 20 yuan/mt from the previous trading day. The average price of Guangdong #1 copper cathode was 105,090 yuan/mt, up 80 yuan/mt from the previous trading day; the average price of SX-EW copper was 104,985 yuan/mt, up 85 yuan/mt from the previous trading day.

Spot market: Guangdong inventory declined for two consecutive days, mainly due to reduced arrivals. Although inventory continued to decrease, consumption was equally weak. Neither traders nor end-users showed strong willingness to restock, and suppliers had to actively lower prices to make shipments. Overall trading activity was poor. Today, the purchasing sentiment for copper cathode in Guangdong was 1.51, down 0.09 from the previous trading day, and the shipment sentiment was 2.7, up 0.05 from the previous trading day (historical data can be accessed via the database).

Overall, month-end consumption was weak and suppliers lowered prices to make shipments, but trading activity remained poor, with overall transactions sluggish.

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.

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