Henan Copper Cathode Procurement Sentiment Remained Weak

According to Polaris Power Network, the Shanxi Provincial Energy Bureau issued the "Notice on Issuing the Construction Plan for the First Batch of Large-Scale Wind and Solar Power Bases in Shanxi Province for 2026." The notice states that, following application and review, a total of eight projects with a combined capacity of 6 million kW have been approved for construction. It also guides enterprises to optimize project layouts, prioritizing the integrated development of wind and solar power to leverage their complementary characteristics.

【SMM Copper Inventory Update】Imported and domestically produced copper continued to arrive on the supply side, while on the demand side, downstream operations had not yet fully resumed production and operations due to seasonal factors, leading to a supply-demand mismatch that drove inventory buildup further. According to SMM data, as of February 26, 2026, social inventories of electrolytic copper in mainstream regions across the country continued the post-holiday inventory buildup trend, with the total amount reaching 531,700 mt, reaching a historically high level.

[ChinaIOL data shows] In 2025, the water purifier industry produced 19.406 million units, up 0.8% YoY; sales reached 19.41 million units, up 0.9% YoY. Among these, domestic sales were 13.425 million units, up 4.7% YoY; exports were 5.985 million units, down 6.9% YoY.