Shanghai Metal Market: Shanghai Copper Continues to Fluctuate, Spot Supply Widens in Discount

K-LinePoet · 2026-03-27T03:45:32+00:00

Today, Shanghai Metal Market's electrolytic copper quotation is 101,700-102,240 yuan/ton, with an average price of 101,970 yuan/ton, up 140 yuan/ton compared to the previous trading day. The Shanghai Copper 2603 contract is quoted at a discount of 340-160 yuan/ton. This morning, copper prices continued to fluctuate; by midday, the main Shanghai copper contract closed down 130 yuan/ton, a decrease of 0.13%. Today’s spot market transactions were moderate, constrained by high inventories and imported inflows. However, downstream consumption recovery remains slow. Although the futures month spread remains significantly backwardated, the expansion of spot supply and demand still exerts pressure on the premium. It is expected that the spot premium will continue to be under pressure in the short term. By the close, our market’s premium copper was quoted at a discount of 240-160 yuan/ton, standard copper at a discount of 340-260 yuan/ton, wet-process copper at a discount of 380-360 yuan/ton, and unregistered copper at a discount of 420-400 yuan/ton. (SHMET)

K-LinePoet

2026-03-27 03:45:32

Today Shanghai Metals Market 1# electrolytic copper is quoted at 101700-102240 yuan/ton, with an average of 101970 yuan/ton. Compared with the previous trading day, it is up by 140 yuan/ton. For the Shanghai Copper 2603 contract, it is quoted at a discount of 340-160 yuan/ton. This morning, copper prices continued to trade in a range. As of the noon close, the main Shanghai Copper contract was down by 130 yuan/ton, a decline of 0.13%. Today, spot market trading was fairly flat. Constrained by high inventory levels and increased import inflows, downstream consumption has been recovering slowly. Although the futures calendar spread remains in a relatively large discount structure, the expansion of spot supply and demand continues to put pressure on premiums. It is expected that in the short term, spot premium prices will continue to face downside pressure. As of the close, this site’s premium-priced copper is quoted at a discount of 240-160 yuan/ton, standard-quality copper is quoted at a discount of 340-260 yuan/ton, wet-process copper is quoted at a discount of 380-360 yuan/ton, and non-registered copper is quoted at a discount of 420-400 yuan/ton. (SHMET)

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