Spot copper prices retreated sharply on June 24, 2026, with Yangtze spot #1 copper sliding 940
yuan/ton and giving back most of the previous week's gains. Domestic SHFE copper futures fell in
lockstep, while LME copper ticked up slightly overnight, presenting a clear pattern of domestic
weakness vs. overseas resilience, broad-based correction in both copper and aluminum.
Latest Data:
Yangtze #1 Copper: RMB 103,410/ton, -940
Bare Copper Wire (Oxygen-Free, Hard): RMB 104,570/ton, -940
Enameled Wire: RMB 108,680/ton, -940
Yangtze A00 Aluminum: RMB 23,470/ton, -330
Guangdong #1 Copper: RMB 103,380/ton, -910
Guangdong A00 Aluminum: RMB 23,450/ton, -320
LME Copper: USD 13,422/ton, +51
SHFE 2607 Near-Month Contract: RMB 103,330/ton, -770
SHFE 2608 Main Contract: RMB 103,330/ton, -840
Market View:
Spot copper prices extended their correction with a steep 940 yuan/ton drop, falling back below the
104,000 yuan/ton threshold as the mid-year demand peak failed to materialize. Domestic SHFE copper
futures followed lower, with the main contract down 840 yuan/ton amid concentrated profit-taking and
capital outflows. LME copper bucked the trend with a mild 51 dollar/ton gain, supported by a softer US
dollar and continued inventory drawdowns. The market has shifted back to a high-level consolidation
phase, with weak domestic demand acting as the key drag.
Industry Note:
Copper price volatility remains elevated, with spot prices under pressure as high prices continue to suppress
downstream purchasing willingness. Buyers remain highly cautious, sticking to rigid-demand procurement and
avoiding speculative stockpiling. Aluminum prices plunged more than 300 yuan/ton, weighed down by high
inventories and softening seasonal demand. Meanwhile, vigilance is required against further downside risk if
demand recovery continues to fall short of expectations.
Chatnow Insight:
We will maintain stable supply and transparent pricing, adjusting quotes flexibly in line with real-time market
movements to buffer the impact of raw material price volatility for our customers to the greatest extent.