Today, the main futures contract for Shanghai copper saw range-bound fluctuations. At the midday close, it fell 0.3%, quoted at a discount of 320 yuan/ton. In the spot market, high copper prices suppressed consumption and demand remained weak. Routine just-needed purchasing continued as usual. Inventory destocking slowed down, with circulation still acceptable but under pressure. #1 electrolytic copper spot quotes were 104,500-105,000 yuan/ton, with an average of 104,750 yuan/ton, down 720 yuan from the previous day. Discount copper quotes were at a discount of 20 to 10 yuan/ton; flat copper was at 160-130 yuan/ton; wet-process copper was 200-180 yuan/ton; and non-registered copper was 300-270 yuan/ton.

K-LinePoet

2026-05-27 04:09:05

Abstract generation in progress

Today, Shanghai Metals Market quoted #1 electrolytic copper at 104,500–105,000 yuan/ton, with an average of 104,750 yuan/ton. Compared with the previous trading day, it fell by 720 yuan/ton. For the SHFE Copper 2606 contract, it was quoted at a discount of 160 and a premium of 10 yuan/ton. Copper prices remain volatile within a range; during the session they saw a slight decline. As of the noon closing, the main SHFE copper contract fell by 320 yuan/ton, down 0.3%. Spot trades today were relatively weak; the high copper price is suppressing consumption. Downstream enterprises are making purchases mainly for just-need demand, and demand has not picked up. Spot market circulation remains acceptable; however, the pace of inventory release has slowed, and the ongoing supply-demand structure continues to weigh on spot prices. As of the midday close, this site’s premium copper was quoted at a discount of 20 and a premium of 10 yuan/ton; flat copper was quoted at a discount of 160 and a discount of 130 yuan/ton; wet-process copper was quoted at a discount of 200 and a discount of 180 yuan/ton; and non-registered copper was quoted at a discount of 300 and a discount of 270 yuan/ton. (SHMET)

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Shanghai Metal Market: Shanghai Copper remains high, downstream cautious and just-in-time purchasing

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