SHFE Copper Futures Warrants Surge by 8,811 mt, Total Now at 165,939 mt

Copper prices on the London Metal Exchange rebounded about 3.6% to around USD 13,360/t after dipping to a three-week low, supported by news that China may boost copper stockpiles and improved risk sentiment among global investors.

According to data from the National Bureau of Statistics (NBS), in January 2026, the national consumer price index (CPI) increased by 0.2% YoY. Specifically, urban areas saw a 0.2% rise, while rural areas increased by 0.1%; food prices declined by 0.7%, whereas non-food prices rose by 0.4%; prices for consumer goods went up by 0.3%, and prices for services increased by 0.1%.

State Grid Corporation of China has continuously optimized the operation mechanism of the inter-provincial electricity market, expanded the scale of medium and long-term inter-provincial transactions, enhanced transaction flexibility and response efficiency, and improved the utilization rate of cross-regional transmission channels in a coordinated manner, effectively promoting the optimal allocation and surplus-deficit adjustment of power resources across a broader scope. According to statistics from the Beijing Electricity Trading Center, State Grid's inter-provincial electricity trading volume in January reached 110.7 billion kWh, up 10.1% YoY.