Copper Eases as China Demand Growth Slows and Shanghai Speculation Retreats

Published: Feb 11, 2026 13:45

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Copper and broader base metals have eased from recent highs as China’s share of global metal demand growth has declined significantly compared to pre-pandemic years and speculative positions in Shanghai unwound. Shanghai futures briefly hit record highs above RMB 114,000/t, but open interest and prices have since fallen, also pushing down London prices.

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