Latest Data:
Yangtze #1 Copper: RMB 104,460/ton, +1,030
Bare Copper Wire (Oxygen-Free, Hard): RMB 105,620/ton, +1,030
Enameled Wire: RMB 109,730/ton, +1,030
Yangtze A00 Aluminum: RMB 23,120/ton, +120
Guangdong #1 Copper: RMB 104,130/ton, +970
Guangdong A00 Aluminum: RMB 23,140/ton, +140
LME Copper: USD 13,480/ton, +95
SHFE 2608 Contract: RMB 103,850/ton, +910
SHFE 2609 Main Contract: RMB 103,920/ton, +1,000
Market View:
Domestic base metals experienced a strong rebound after the previous day's profit-taking correction. Copper led the recovery, with spot prices climbing over 1,000 yuan/ton, returning above the 104,000 yuan/ton level. SHFE copper futures followed the upward movement as market buying interest returned and short-term bearish positions were reduced.
The rebound was mainly supported by tight spot supply, resilient downstream demand, and renewed expectations surrounding future supply constraints. In overseas markets, LME copper moved higher as concerns over global copper availability remained, while investors monitored currency movements, inflation expectations, and geopolitical developments.
Aluminum prices also recovered moderately, although gains remained limited due to relatively balanced supply-demand fundamentals and high inventory levels. Overall, the base metals market has entered a phase of high-level consolidation, with volatility expected to remain elevated as traders continue to balance macro factors and fundamental support.
Industry Note:
Copper market volatility remains elevated, with prices experiencing rapid swings within a short period. Despite the strong rebound, spot premiums continue to show resilience, reflecting relatively tight physical supply and steady purchasing activity from industrial consumers.
Downstream buyers remain focused on essential procurement, avoiding aggressive stockpiling while closely monitoring price movements. The medium- to long-term copper outlook continues to be supported by limited mine supply growth and increasing demand from renewable energy, electric vehicles, and power infrastructure sectors.
For aluminum, upward momentum remains comparatively weaker due to sufficient supply and seasonal demand pressure. Further price movement will depend on inventory changes, macroeconomic signals, and market confidence.
Chatnow Insight:
We will continue to closely monitor raw material price trends and maintain stable supply with transparent pricing strategies. By optimizing procurement planning and production management, we aim to minimize the impact of copper price fluctuations and provide customers with reliable cable solutions and competitive quotations.