Spot copper prices fell sharply on May 22, 2026, with Yangtze spot #1 copper dropping 720 yuan/ton, marking
the largest single-day decline since mid-May. Domestic SHFE copper futures retreated slightly, while LME copper
rebounded marginally, showing a clear pattern of weak domestic vs. strong overseas, sharp spot correction.
Aluminum prices edged lower with limited volatility, maintaining a high-level consolidation trend.
Latest Data:
Yangtze #1 Copper: RMB 104,700/ton, -720
Bare Copper Wire (Oxygen-Free, Hard): RMB 105,860/ton, -720
Enameled Wire: RMB 109,970/ton, -720
Yangtze A00 Aluminum: RMB 24,350/ton, -40
Guangdong #1 Copper: RMB 104,800/ton, -720
Guangdong A00 Aluminum: RMB 24,200/ton, -60
LME Copper: USD 13,608/ton, +93
SHFE 2606 Front-Month Contract: RMB 104,630/ton, -100
SHFE 2607 Main Contract: RMB 104,370/ton, -60
Market View:
Spot copper saw a sharp pullback of 720 yuan/ton, the biggest drop in a week, as high prices continued to
suppress downstream demand and profit-taking intensified. Domestic SHFE copper futures fell mildly, with
the main contract down 60 yuan/ton, reflecting cautious sentiment. LME copper rose 93 dollars/ton amid
dollar weakness and supply concerns, driving obvious divergence between domestic and overseas markets.
Aluminum prices dipped slightly with narrow fluctuations, lacking strong momentum. The market is in a high-
level adjustment phase with intensified long-short disputes.
Industry Note:
Copper price volatility remains elevated, with spot prices accelerating correction after failing to break through
106,000 yuan/ton. Downstream procurement is extremely cautious, with most buyers delaying purchases and
only maintaining rigid demand. LME copper's rebound is constrained by high US inflation and delayed Fed rate
cuts, limiting upside. Aluminum prices are stuck in a range, supported by low inventories but pressured by weak
demand. vigilance is needed against accelerated spot declines if sentiment worsens.
Chatnow Insight:
We will maintain stable supply and transparent pricing, adjusting quotes flexibly based on market fluctuations to
support customers in managing costs.