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Copper cathode · buyers, suppliers and prices

Copper cathode: verified suppliers and buyers

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.

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How copper cathode is priced

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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Typical copper cathode specification

Grade
Grade A (LME registered brands) or non-registered brands
Copper
Grade A typically quoted as 99.99% Cu minimum
Standard
BS EN 1978 Cu-CATH-1, ASTM B115 Grade 1 or GB/T 467 A grade
Impurities
Tight limits on Se, Te, Bi, Sb, As, Pb, S, Ag and others; about 65 ppm total for Cu-CATH-1
Form
Full plates around 1 m × 1 m, strapped in bundles of about 2 to 3 MT
LME lot
25 MT (±2%) per warrant
Production
Electrorefined from anodes, or SX-EW from leached oxide ore
Transport
Truck of about 32 to 36 MT inland; containers or break bulk by sea

Where it usually comes from

Where it usually goes

Documents you'll see

  • SCO or FCO (seller's offer)
  • LOI or ICPO (buyer's letter of intent)
  • SPA (sales and purchase agreement)
  • Producer's certificate of analysis
  • Independent inspection: SGS, Bureau Veritas, Alfred H Knight (AHK) or CCIC
  • Certificate of origin, one per truck for DRC road exports
  • Warehouse receipt or SKR from a named bonded warehouse
  • Export licence
  • Weighbridge tickets and packing list
  • Bill of lading or road consignment note (CMR)
  • Commercial invoice

Red flags

  • Grade A cathode offered at LME −20% or deeper, often with huge monthly volumes
  • One certificate of origin covering hundreds of tonnes that left the DRC by road
  • Refusal of an independent inspector appointed by the buyer
  • An SKR or warehouse receipt from a warehouse you cannot find or call on its own published number
  • "Test and pay" where you must pay before the copper is transferred into your name
  • Requests for insurance bond, release or registration fees before inspection

How Copper Supply works

  1. Step 1Post freeSay what you buy or sell: product, tonnage, price basis, delivery terms. Fraud checks run before it goes live.
  2. Step 2Matching traders hear in minutesMembers who trade that product get an email as soon as your listing is live, and every Monday in the market report.
  3. Step 3Talk only to checked peopleNobody can message you until they've passed an ID check. You see what we checked and choose who to talk to.
  4. Step 4Run the deal in one roomNCNDA, LOI/ICPO, offers, SPA, IMFPA and signatures in one private deal room. Run any document through a fraud check before money moves.

Free to join. Copper Supply never holds trade money and takes no commission on deals.

Questions people ask

How is copper cathode priced?

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.

What is Grade A copper cathode?

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.

How do I know a copper cathode seller is real?

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 run the documents through a fraud check. A price deeper than about LME −20% is a strong sign the offer is fake.

Who buys copper cathode?

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.

What documents are used in a copper cathode deal?

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.

Is copper cathode at LME −20% real?

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.

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