The Last Trading Week Before the Holiday, the Spot Market Tends to Cool Down [SMM North China Spot Copper]

Published: Feb 9, 2026 11:18

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SMM February 9:

In North China today, spot #1 copper cathode prices against the front-month contract were at a discount of 320-160 yuan/mt, with an average discount of 240 yuan/mt, unchanged from the previous trading day. Transaction prices ranged from 101,030-101,530 yuan/mt, with an average of 101,280 yuan/mt, up 1,955 yuan/mt from the previous trading day. As the market entered the last trading week before the Chinese New Year, most enterprises had completed stockpiling. Additionally, with copper prices rising today and logistics being relatively tight, market transactions were sluggish. In North China today, the procurement sentiment for copper cathode was 1.78, down 0.69 from the previous trading day, while the shipment sentiment was 1.55, down 0.11 from the previous trading day ().

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