Copper Cathode Premiums Edge Up in North China Amid Supply Tightening

Copper cathode premiums in North China edged up as supply tightened, pushing spot prices higher. According to data from SMM, the average premium against the front-month contract rose by 35 yuan/mt to 70 yuan/mt on August 26.

The average transaction price for copper cathode also increased by 1,110 yuan/mt to 109,335 yuan/mt over the previous trading day. The futures market saw a significant surge as downstream wait-and-see sentiment intensified and suppliers' willingness to hold prices firm grew.

Market participants reported that available supply in North China was limited, driving up spot premiums. Copper cathode procurement sentiment in the region dipped slightly to 1.18, while shipment sentiment fell to 2.71 on August 26.