To better serve industrial clients and stay closely aligned with the market, SMM is introducing a weekly Copper grade A cathode premium, FCA Zambia, which will be officially launched on the SMM website (smm.cn) on July 31, 2026.
In recent years, as the global copper mine development center has continued shifting toward Africa, Zambia, with its rich copper ore resources, steadily improving smelting capacity, and geographical and logistics advantages, has become one of the world’s major copper cathode supply sources. According to an SMM survey, Grade A copper cathode produced in Zambia is primarily sold through the FCA trade mode, which has now become one of the most representative spot trade pricing methods locally.
As Zambia's smelting capacity continues to expand and international traders' purchasing activity grows, the share of African copper cathode in global trade flows has further increased. At the same time, factors such as fluctuations in international logistics costs, cross-border transportation efficiency, regional supply changes, and downstream procurement demand have increasingly affected spot transaction prices for Zambian copper cathode, making the Copper grade A cathode premium, FCA Zambia an important price reference for international trade, long-term contract negotiations, and cross-regional arbitrage.
Against this backdrop, Shanghai Metals Market (SMM) will officially launch the Copper grade A cathode premium, FCA Zambia, USD/mt on July 31, 2026. The price will be based on representative FCA spot transactions of Grade A copper cathode within Zambia, and will comprehensively factor in market transaction prices, trader quotes, smelter sales conditions, brand structure, transportation and delivery terms, and market liquidity to form a representative market settlement reference price. The price will be updated every Friday at 12:00 Beijing time and simultaneously displayed on the SMM website, where users can access historical price curves and related analysis data.
This launch aims to further improve the global copper cathode pricing system, enhance price transparency in the African market, and provide a more precise and transparent price reference for international trade, long-term contract pricing, supply chain management, and industry research, thereby helping the global copper industry chain achieve more efficient market pricing. For any inquiries, please call the SMM Copper Research Team.
Shaoxue Yu, 021-2070-7048, 17862899582.
Shanyu Jiang, 021-20707916, 15615750662.