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Copper cathode · buyers, suppliers and prices
Copper cathode is refined copper in flat plates, usually Grade A at 99.99% copper, made in a refinery or by SX-EW at the mine. It is sold by smelters, mines and traders, and bought by rod mills, fabricators and trading houses. On Copper Supply you can post a buying requirement or a selling offer for free and deal only with members who have passed an ID check.
Copper cathode is priced against the London Metal Exchange (LME). The usual basis is the LME cash settlement (the official price), averaged over an agreed quotational period, such as the month of shipment or the month after.
Grade A registered brands delivered to main markets sell at LME plus a premium in US$ per tonne. Premiums differ by region and are reported by price agencies, for example the Shanghai (Yangshan) premium for China and the Rotterdam premium for Europe. Producers also agree yearly premiums for term contracts.
Non-registered brands, and cathode sold inland in Africa, sell at a discount to the LME. The discount covers transport to port, freight, financing, brand risk and inspection. In our own trading in 2025 and 2026, real Grade A cathode in African bonded warehouses sat at roughly LME −8% to −10%, with deeper discounts at the smelter gate. Offers deeper than about LME −20% are almost always fake. See LME discounts.
Payment is usually by TT after inspection for trial lots, then by letter of credit or cash against documents. On Copper Supply a listing can be priced as LME + US$/t, LME − US$/t, LME ± %, a fixed price, or open to offers.
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Against the LME cash settlement price, averaged over an agreed period. Registered Grade A brands in main markets sell at LME plus a premium in US$ per tonne. Non-registered brands and cathode sold inland in Africa sell at a discount to the LME, which covers transport, finance and brand risk.
Grade A is refined copper cathode that meets BS EN 1978 Cu-CATH-1, ASTM B115 Grade 1 or the matching Chinese standard, typically quoted as 99.99% copper. Brands that meet it and are approved by the LME can be delivered against LME contracts. Cathode that meets the chemistry but is not an LME brand is often called non-registered or off-brand.
A real seller can name the producer and brand, prove where the copper is and who owns it, and accept an inspector you appoint. Check the company in its official registry, call the warehouse yourself on its published number, and have the documents reviewed. A price deeper than about LME −20% is a strong sign the offer is fake.
Rod mills, wire and cable makers, brass and tube mills, and the trading houses that supply them. China is the largest importer of refined copper, followed by countries such as India, Turkey, South Korea, Taiwan and Italy.
Documents2 min read
The standards behind Grade A cathode, why purity claims on concentrate and ore can be impossible, and what to put in the contract.
Read the guideScams & fraud3 min read
Deep LME discounts on Grade A cathode are how many scams start. What discounts we actually saw on real offers, and what pushes a price lower or higher.
Read the guideChecking people2 min read
Everyone says they have stock. Five checks that separate sellers who control copper from people forwarding someone else's offer.
Read the guideDocuments
Post it free. Members who trade it get an email within minutes, and only ID-checked people can contact you.
Typical copper cathode specification
Usually an SCO or FCO from the seller, an LOI or ICPO from the buyer, then an SPA. Delivery needs a certificate of analysis, independent inspection, a warehouse receipt, an export licence, certificates of origin and a bill of lading or road consignment note.
Almost never for Grade A. In 2025 and 2026 real cathode in African bonded warehouses traded at roughly LME −8% to −10%. Any trader could buy real Grade A at −20% and sell it on at once, so such offers are used to collect contacts, documents or fees.
How copper is held in bonded warehouses, what a genuine receipt looks like, why a bank SKR for cathode is a red flag, and how to confirm ownership.