Copper Prices Pulled Back with Demand Slightly Recovering, Spot Premiums Rebounded Modestly [SMM North China Spot Copper]

Published: Jun 4, 2026 11:34

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Today, #1 copper cathode spot prices in North China against the front-month contract were reported at an average discount of 380 yuan/mt to a discount of 280 yuan/mt, with the average discount of 330 yuan/mt up 20 yuan/mt from the previous trading day. The average transaction price was 104,925 yuan/mt, down 1,435 yuan/mt from the previous trading day.

SMM June 4 update:

Today, #1 copper cathode spot prices in North China against the front-month contract were reported at a discount of 380 yuan/mt to a discount of 280 yuan/mt, with the average discount of 330 yuan/mt up 20 yuan/mt from the previous trading day, and the average transaction price at 104,925 yuan/mt, down 1,435 yuan/mt from the previous trading day. Due to weak market consumption and the large spot discount pattern, some cargoes in the north were shipped south to delivery warehouses. Combined with today's copper price pullback, downstream demand recovered slightly, and spot premiums rebounded marginally. Today, the procurement sentiment for copper cathode in North China was 1.22, up 0.14 from the previous trading day, while the selling sentiment was 1.58, down 0.17 from the previous trading day ().

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