Shanghai Copper Spot Prices to Remain Under Pressure Amid High Inventories and Soft Demand

Published: Apr 1, 2026 11:54

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Shanghai copper spot to stay under pressure tomorrow. Recent arrivals of imported copper—including Japanese brands like SRP and TAMANO-P—are weighing on spot discounts. Demand softened as end-users showed limited acceptance of higher prices. Some holiday restocking emerged, but high spot inventories cap any upside. The narrow spread between high-grade and standard-grade copper reflects subdued actual consumption. The spot discount against the 2604 contract is expected to persist.

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