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

Save

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 ().

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

10 hours ago

Chile's Water Crisis Threatens Atacama's Copper and Lithium Mining Amid 14-Year Drought

Chile’s most pressing crisis at present is the issue of water resources. The Atacama Desert in Chile is one of the driest regions in the world and also the core area for copper and lithium ore extraction. The local area has experienced a drought for as long as 14 years, and reservoir storage has fallen to only about 30%. For miners, water resources are not a secondary issue, but an indispensable key production factor in such processes as ore processing, dust suppression, and equipment cooling. The decline in ore grade has further exacerbated the predicament

10 hours ago

Trump Adjusts Metal Tariffs, Applies 50% Rate to Consumer Prices Under Section 232, Details Unclear

US President Trump adjusted the national security tariffs on imports of steel, aluminum, and copper, lowering the tariff rates on derivative products made from these metals, streamlining compliance procedures, and preventing the declared value of imports from being understated.A senior Trump administration official said that, under a proclamation signed by Trump, the US would continue to maintain a 50% import tariff on imports of metal commodities such as steel, aluminum, and copper pursuant to Section 232 of the Trade Act of 1974, but would apply this rate to the price paid by US consumers. It is currently unclear how the selling price—and the resulting tariffs—would be determined.

10 hours ago

Barrick Confirms 2028 Production Target for Reko Diq Copper-Gold Project in Pakistan Despite Budget Concerns

Barrick Mining said that its Reko Diq copper-gold project in Pakistan still plans to achieve first production by the end of 2028.The project is a large-scale copper-gold project jointly developed by Barrick, the Pakistani government, and relevant joint venture partners, and is located in Balochistan, Pakistan. Although the company had previously warned that the capital budget previously disclosed for the project's two phases could face a significant increase, the 2028 production commencement target remained unchanged.

10 hours ago