Spot copper prices edged lower slightly on May 19, 2026, with a modest pullback after the previous
sharp declines. Domestic SHFE copper futures stabilized and ticked up marginally, while LME copper
continued its mild decline. Aluminum prices rebounded strongly against the trend, presenting a clear
pattern of weak copper and strong aluminum with spot-futures divergence.
Latest Data:
Yangtze #1 Copper: RMB 104,270/ton, -210
Bare Copper Wire (Oxygen-Free, Hard): RMB 105,430/ton, -210
Enameled Wire: RMB 109,540/ton, -210
Yangtze A00 Aluminum: RMB 24,200/ton, +150
Guangdong #1 Copper: RMB 104,360/ton, -190
Guangdong A00 Aluminum: RMB 24,130/ton, +220
LME Copper: USD 13,529/ton, -57
SHFE 2606 Front-Month Contract: RMB 104,130/ton, +40
SHFE 2607 Main Contract: RMB 104,140/ton, +60
Market View:
Spot copper prices extended their correction but with significantly narrowed declines, marking a slowdown
in the downward momentum. Domestic SHFE copper futures stabilized and rebounded slightly, indicating
that market panic has eased and technical repair has started. LME copper continued to drift lower amid weak
overseas sentiment, while aluminum prices stood out with a strong rebound. The market has now entered a
high-level consolidation and bottoming phase with intensified long-short game.
Industry Note:
Copper price volatility has decreased notably, and high-level risks have been partially released. Downstream
procurement remains cautious overall, but sporadic rigid demand has started to emerge as prices pull back.
Aluminum prices rebounded sharply after excessive declines, supported by low-level replenishment and
export demand. Meanwhile, vigilance is still required against short-term fluctuations caused by macro news
and capital flows.
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.