Shanghai Metal Market: Copper prices rise within range, downstream consumption based on demand

K-LinePoet · 2026-02-12T06:56:48+00:00

Today, Shanghai Metal Market #1 Electrolytic Copper quotation rose by 2,940 yuan/ton, maintaining at 104,190 yuan/ton overall. The proposal to control copper concentrate reserves and production is positive for the market, with the Shanghai copper main contract up by 2.45%. Spot market demand remains steady, but circulation is slightly tight.

K-LinePoet

2026-02-12 06:56:48

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Today, Shanghai Metal Market’s #1 electrolytic copper quotation is 103,420-104,960 yuan/ton, with an average of 104,190 yuan/ton, up 2,940 yuan/ton compared to the previous trading day. The Shanghai Copper 2602 contract is quoted at a premium of 160-80 yuan/ton. Recently, the Nonferrous Metals Society proposed copper concentrate reserves and strict control of copper production, which is a positive expectation combined with technical trends, causing copper prices to rebound within a range. By midday close, the main Shanghai copper contract rose by 2,490 yuan/ton, a 2.45% increase. Today, the overall spot market is generally steady; after the price strength, downstream maintains just-in-time consumption. The spot market liquidity appears somewhat tight, coupled with the futures month spread remaining at a significant discount. Holders are selling passively, and although the spot remains at a discount, it continues to narrow slightly. By the close, the premium for spot copper is 120-80 yuan/ton, flat copper is 160-120 yuan/ton, wet-process copper is 220-180 yuan/ton, and non-registered copper is 300-250 yuan/ton. (SHMET)

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