Nuode's RTF-3, HVLP Products Enter Supply Chains; Orders for High-Value Foils Rise

[Latest Data from the General Administration of Customs] In April 2026, China imported 211,700 mt in physical content of copper scrap and shredded copper scrap. Of this, 138,300 mt were imported through Ningbo Customs, ranking first and accounting for 65.33%; 14,500 mt were imported through Guangdong Customs, ranking second and accounting for 6.87%. (HS code: 74040000)

Recently, the PCB concept has continued to rally, with share prices of related publicly listed firms performing strongly. Currently, downstream demand from AI, communications, and other sectors continues to improve, driving sufficient orders in the CCL market. Meanwhile, copper prices have recently been fluctuating at highs and fiberglass cloth supply remains tight, pushing raw material costs to rise. Under the dual effects of rising raw material costs and robust downstream demand, a price-increase sentiment has emerged for products such as copper clad laminates (CCL).

Looking ahead to tomorrow, copper prices remain at a relatively high level, downstream demand is weak, and the market is dominated by just-in-time procurement. Trading sentiment has pulled back slightly for consecutive days, and market transactions are sluggish. In terms of market structure, the inter-month Contango price spread between futures contracts remains around 150 yuan/mt. Suppliers show a strong willingness to hold open interest for delivery, and some inclination to hold prices firm has emerged, with some suppliers offering standard-quality copper cargoes with invoices dated this month at a discount of 120 yuan/mt during the day. Overall, Shanghai spot copper prices against the SHFE copper 2606 contract are expected to remain at a discount tomorrow, but downside room is limited.