[SMM price] the price of Golden Dragon Brass Bar fell by 100 yuan on May 25, 2020.

In mid-May, LME copper rallied strongly, exceeding the historical $14,000/mt mark for the first time. The boom on the metal exchange drove European copper scrap prices to unprecedented levels. According to German market data, wholesale purchasing prices for copper scrap increased by €30 to €55 per 100 kilograms within a single week, depending on the grade, with brass scrap following the uptrend. This price surge has further strengthened the reluctance to sell among holders of already scarce high-quality local scrap in Europe.

SMM Morning Meeting Summary: Overnight, LME copper opened at $13,477.5/mt, dipped to $13,461/mt in early trading, then gradually shifted its center upward to reach $13,676/mt, and finally closed at $13,654.5/mt, up 1.69%, with a trading volume of 17,000 lots and open interest of 273,000 lots, down 3,375 lots from the previous trading day, indicating bears reducing positions. Overnight, the most-traded SHFE copper 2606 contract opened at 103,950 yuan/mt, touching a low of 103,950 yuan/mt right at the open, then shifted its center upward to reach a high of 105,190 yuan/mt, and finally closed at 105,030 yuan/mt, up 1.04%, with a trading volume of 37,000 lots and open interest of 133,000 lots, down 3,198 lots from the previous trading day, indicating bears reducing positions.

In April 2026, China's copper cathode import and export market exhibited a clear pattern of "rising imports and falling exports.