Copper Supply to Rise, Spot Discounts Under Pressure Amid Supply-Demand Mismatch

Published: Feb 27, 2026 13:13

Save

Looking ahead to next week, SHFE copper spot supply is set to increase, with Peruvian and Japanese cargoes visible intraday. The contango spread between adjacent months widened slightly, and persistent willingness to deliver to warehouses further diverts spot liquidity. Although some suppliers hold prices firm, expectations of warrant outflows pressure spot premiums/discounts. Downstream production has not fully resumed; procurement sentiment is cautious but recovering. Amid supply-demand mismatch, social inventory is expected to continue building. Overall, supply pressure will keep spot discounts under pressure next week.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

Data: SHFE, DCE market movement (Feb 27)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 27 Feb , 2026

Common.Time.minsAgo

U.S. Tariff Increase Expectations Weaken, Copper Inventory Buildup During Holiday Significantly Exceeds Expectations [SMM Macro Weekly Review]

Common.Time.minsAgo

Common.Time.hoursAgo

Cable Resumption Steadily Advances, Demand Recovery Awaits Yuanxiao [SMM Wire and Cable Market Weekly Review]

Common.Time.hoursAgo