Shanghai Copper Market Faces Pressure as Downstream Demand Cools and Supplier Sales Increase

Published: Mar 25, 2026 13:17

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The Shanghai spot copper market is expected to remain under pressure tomorrow. After copper prices jumped, downstream buying interest cooled, reflecting limited acceptance of current price levels. Suppliers showed strong willingness to sell, with some brands continuing to offload cargo, weighing on discounts. Downstream buyers mostly stayed on the sidelines, with procurement driven by rigid needs and dip-buying. Notably, the price spread between high-quality and standard-quality copper narrowed from earlier, indicating a more rational market where actual consumption demand is the dominant force. Overall, amid active selling by suppliers and cautious procurement by downstream buyers, the discount against the 2604 contract is expected to remain at current levels tomorrow.

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