Shanghai Metals Online: Shanghai Copper Oscillates Within Range, Spot Trading Stable

K-LinePoet · 2026-03-24T07:38:03+00:00

Today, the electrolytic copper prices on Shanghai Metal Market slightly declined, mainly due to adjustments in copper prices and market supply and demand. The spot market remained relatively stable, with downstream consumption gradually recovering but with limited growth, and sellers' willingness to sell increasing. The futures market maintained a backwardation structure, and overall copper prices remained range-bound.

K-LinePoet

2026-03-24 07:38:03

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Today, Shanghai Metal Market’s #1 electrolytic copper quotation is 101,000-101,980 yuan/ton, with an average of 101,490 yuan/ton, down 370 yuan/ton from the previous trading day. The Shanghai copper June 2603 contract is quoted at a premium of 220-60 yuan/ton. This morning, copper prices continued to trade sideways. By midday, the main Shanghai copper contract fell by 310 yuan/ton, a 0.3% decrease. The overall spot market remains stable today. Copper prices are gradually adjusting, and the market is slowly adapting to the prices. Downstream sectors are gradually recovering, but the pace of consumption increase is relatively limited. The futures spread remains in a backwardation structure, with the price difference narrowing compared to early this week. Sellers are more willing to ship, and with imported copper arrivals, supply slightly exceeds demand, limiting the rise in spot prices. By the close, the premium for SHMET copper is 100-60 yuan/ton, cash copper is 220-140 yuan/ton, wet-process copper is 250-230 yuan/ton, and non-registered copper is 300-270 yuan/ton.

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