Shanghai Metals: Shanghai copper remains volatile, with spot supply mostly trading at wider discounts

K-LinePoet · 2026-03-16T23:06:27+00:00

Today's Shanghai Metals Network electrolytic copper quotation declined, with an average price of 101830 yuan/ton. The main Shanghai copper contract rose slightly, and market sentiment improved, but spot prices came under pressure from high inventory and import supply pressure, with holders gradually lowering their asking prices.

K-LinePoet

2026-03-16 23:06:27

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Today, Shanghai Metal Market’s #1 electrolytic copper quotation is 101,440-102,220 yuan/ton, with an average of 101,830 yuan/ton, down 230 yuan/ton compared to the previous trading day. The Shanghai copper June 2603 contract is quoted at a discount of 300-140 yuan/ton. This morning, copper prices continued to fluctuate within a range. By midday, the main Shanghai copper contract rose by 40 yuan/ton, a 0.04% increase. The market sentiment has improved compared to yesterday, as both supply and demand resumed after the holiday, with downstream consumption slightly better than at the beginning of the week. However, the influx of some imported goods and high inventory levels have put pressure on spot prices due to oversupply. During trading, sellers gradually lowered their quotes. By the close, the premium copper was quoted at a discount of 180-140 yuan/ton, neutral copper at a discount of 300-240 yuan/ton, wet-process copper at a discount of 380-340 yuan/ton, and non-registered copper at a discount of 420-400 yuan/ton. (SHMET)

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