Spot copper prices surged sharply on April 23, 2026, breaking through the 103,000 yuan/ton mark and hitting
a new all-time high. Domestic SHFE copper futures rallied strongly in tandem, while LME copper jumped
significantly to a multi-month high. The market showed a clear pattern of strong copper and firm aluminum,
with both domestic and overseas markets moving higher in unison.
Latest Data:
Yangtze #1 Copper: RMB 103,140/ton, +730
Bare Copper (Oxygen-Free): RMB 104,300/ton, +730
Enameled Wire: RMB 108,410/ton, +730
Guangdong #1 Copper: RMB 103,120/ton, +630
LME Copper: USD 13,433/ton, +203
SHFE 2604 Contract: Final delivery settlement price RMB 101,630/ton (expired April 15, no active trading)
SHFE 2605 Front-Month Contract: RMB 102,980/ton, +750
SHFE 2606 Main Contract: RMB 103,050/ton, +700
Market View:
Spot copper prices surged sharply in a single day, breaking the 103,000 yuan/ton threshold to set a new all-
time high. Domestic SHFE copper futures followed suit and surged, with the main contract hitting a record
high. LME copper rose sharply overnight, boosted by supply tightness and macro optimism, reaching a three-month high.
Industry Note:
Extreme volatility in copper prices persists, with daily swings exceeding 700 yuan becoming frequent. Downstream
procurement costs have hit a new historical high, and buyers remain cautious, focusing only on rigid demand with
almost no speculative stockpiling. Meanwhile, heightened vigilance is required against the risk of a rapid pullback
amid the record-high price level.
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.