Spot copper prices edged higher and held steady at an ultra-high level above the 100,000 yuan/ton mark on
April 22, 2026, maintaining its position near the all-time high set earlier this month. Domestic SHFE copper
futures stabilized with mild gains, while LME copper traded sideways with a slight pullback at historically
elevated levels. The market presented a pattern of steady rebound in both copper and aluminum, with
domestic spot and futures markets edging higher in tandem.
Latest Data:
Yangtze #1 Copper: RMB 102,410/ton, +120
Bare Copper (Oxygen-Free): RMB 103,570/ton, +120
Enameled Wire: RMB 107,680/ton, +120
Guangdong #1 Copper: RMB 102,490/ton, +140
LME Copper: USD 13,230/ton, -44
SHFE 2604 Contract: Final delivery settlement price RMB 101,630/ton (contract expired on April 15, 2026, no active trading on the day)
SHFE 2605 Front-Month Contract: RMB 102,230/ton, +50
SHFE 2606 Main Contract: RMB 102,350/ton, +10
Market View:
Spot copper prices maintained a firm trend at the ultra-high level in the day, holding steadily above the
102,000 yuan/ton threshold and staying near the historical record. Domestic futures stabilized with
mild gains simultaneously, with SHFE copper contracts remaining supported at the high level.
LME copper held its historically high valuation despite a slight overnight pullback.
Industry Note:
High-level wide volatility in copper prices persists, with the market remaining sensitive to macro and
supply-demand changes. Procurement costs for downstream end-users stay at a historically elevated
level, and buyers remain generally cautious, focusing only on rigid demand with low willingness for
speculative stockpiling. Meanwhile, vigilance is required against the risk of a sharp correction amid
the ultra-high price range.
Chatnow Insight:
We will maintain stable supply and consistent pricing for our customers, and buffer the impact of severe
raw material price fluctuations to the greatest extent.