Latest Update in the SMM Copper Market

SMM data shows that the operating pace of the enamelled wire industry slowed down slightly this week, with the machine utilization rate dropping slightly by 0.2 percentage points MoM to......

In the first half of 2025, copper prices in the three markets (COMEX, LME, and SHFE) exhibited a wave-like upward trend. After a sharp drop in early April, strong buying interest continued to drive copper prices higher in a wave-like pattern.

[SMM Shanghai spot copper] Looking ahead to next week, even if smelters replenish their supplies to Shanghai warehouses over the weekend, this phenomenon may only alleviate the situation. If the replenishment of supplies does not arrive in a timely manner, it is expected that there will still be a shortage of brands for delivery at the beginning of next week.

Today, spot #1 copper cathode in North China traded at a discount of 140 yuan/mt to 80 yuan/mt against the front-month contract, with an average discount of 110 yuan/mt, up 10 yuan/mt from the previous trading day. The transaction price ranged from 78,250 yuan/mt to 78,500 yuan/mt, with an average price of 78,375 yuan/mt, up 580 yuan/mt from the previous trading day.

Futures market: Overnight, LME copper opened at $9,606.5/mt, initially touched a low of $9,597/mt, then fluctuated upward rangebound, and finally closed at $9,678/mt, up 0.43%, with trading volume at 11,000 lots and open interest at 268,000 lots.

Futures market: Overnight, LME copper opened at $9,606.5/mt, initially touched a low of $9,597/mt, then fluctuated upward rangebound, and finally closed at $9,678/mt, up 0.43%, with trading volume at 11,000 lots and open interest at 268,000 lots.