Spot copper prices surged sharply today, hitting an all-time high. Domestic futures and LME copper prices also
continued to rise in tandem. The market showed a pattern of strong copper and stable aluminum, with both
domestic and overseas markets moving higher in unison.
Latest Data:
Yangtze #1 Copper: RMB 103,090/ton, +1,900
Bare Copper (Oxygen-Free): RMB 104,250/ton, +1,900
Enameled Wire: RMB 108,360/ton, +1,900
Guangdong #1 Copper: RMB 102,850/ton, +2,000
LME Copper: USD 13,196/ton, +71
SHFE 2604 Contract: RMB 101,630/ton, +790
SHFE 2605 Contract: RMB 102,238/ton, +2,350
Market View:
Spot copper prices skyrocketed in a single day to a new record, while futures strengthened across both
domestic and overseas markets. The main SHFE copper contract also hit an all-time high.
Industry Note:
Extreme volatility in copper prices persists, with daily swings of over RMB 1,000 becoming the norm.
Procurement costs for downstream end-users have risen sharply, and buyers remain generally cautious and on
the sidelines, focusing only on rigid demand with weak willingness for speculative stockpiling. Meanwhile,
caution is needed against the risk of a rapid pullback amid high prices.
Chatnow Insight:
We will maintain stable supply and consistent pricing for our customers.