Copper Futures Warrants Flow Out, Spot Premiums Rebound Amid Destocking

Published: Apr 1, 2026 17:22

Save

[SMM Copper Bulletin] According to the SHFE daily copper warrant report, copper futures warrants continued to flow out by 8,368 mt during the day, with the most significant outflows in Shanghai at 3,640 mt, followed by Guangdong at 2,926 mt and Jiangsu at 1,902 mt. As social inventories continued destocking, spot premiums in various regions basically stopped falling and rebounded.

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

Uncertainty Still Surrounds the Situation in the Middle East, the Most-Traded BC Copper Contract Closed Down 0.05% [SMM BC Copper Commentary]

Common.Time.minsAgo

Common.Time.hoursAgo

Data: SHFE, DCE market movement (Apr 03)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 03 Apr , 2026

Common.Time.hoursAgo

Cautious Procurement and Slow Pickup Pace Lead to Stable Copper Cathode Rod Operating Rates

【SMM Copper Cathode Rod Flash Update】Inventory side, affected by higher copper prices, enterprises became more cautious in raw material procurement, and raw material inventory pulled back; downstream pick-up pace was relatively slow, with enterprises basically balancing production and sales, and finished product inventories edging down slightly. Next week, the operating rate of copper cathode rod enterprises is expected to be stable with a slight decline, and SMM expects the operating rate to pull back MoM to 82.58%.

Common.Time.hoursAgo