Copper prices tumbled today, erasing a significant portion of the recent gains as the market pulled back sharply from historic levels.
As of August 19, 2026, copper prices dropped across all major exchanges:
| Market | Price | Change |
|---|---|---|
| Yangtze Spot (1# Copper) | RMB 107,290/ton | ↓ RMB 940/ton |
| Guangdong Spot (1# Copper) | RMB 106,940/ton | ↓ RMB 960/ton |
| LME Copper | USD 13,962/ton | ↓ USD 169/ton |
| SHFE 2609 Contract | RMB 106,820/ton | ↓ RMB 1,160/ton |
| SHFE 2610 Contract | RMB 106,420/ton | ↓ RMB 1,360/ton |
| Yangtze A00 Aluminum | RMB 23,670/ton | ↓ RMB 230/ton |
Market Analysis
Copper prices suffered a sharp correction today, with Yangtze spot copper dropping nearly RMB 1,000/ton from yesterday's level. The pullback comes after copper surged to an all-time high of RMB 109,990/ton just two days ago, reflecting a classic profit-taking scenario following an overheated rally.
Key factors driving today's decline:
Profit-taking - After the historic surge, traders moved to lock in gains
Weaker demand sentiment - Concerns over global economic growth resurfaced
LME inventory buildup - Stock levels showed signs of recovery, easing supply concerns
Dollar strength - A firmer US dollar put pressure on dollar-denominated commodities
Impact on Cable Buyers
Despite today's sharp drop, copper prices remain well above the RMB 100,000/ton level - a threshold that was unthinkable just months ago. For cable buyers, this correction may present a window of opportunity to secure pricing before the next potential rally. Copper still accounts for 70-80% of cable production costs, and the medium-term supply outlook remains uncertain.
What to Watch
Supply side: Global mine production continues to face disruptions
Demand side: Renewable energy and grid investment remain strong
Macro environment: US dollar movement and China's economic data will influence short-term direction
Chatnow Insight
We continue to monitor copper price movements closely and maintain transparent, flexible pricing to help our customers manage raw material cost volatility. For upcoming projects, we recommend reviewing procurement plans and considering fixed-rate options where possible.