Data: SHFE, DCE market movement (Apr 30)

Recycling Today reports that nonferrous markets began 2026 with notable volatility, with copper prices nearing record highs before moderating, while aluminum and zinc also saw fluctuating gains and retreats. In the copper scrap segment, global demand remains healthy despite softer U.S. demand. A Midwest scrap processor noted that high-grade scrap such as No. 1 bare bright copper fetched stronger prices, leading to unprecedented export volumes to India, Japan, and South Korea. Domestic consumers may soon recognize tighter apparent supply conditions.

Rising copper prices have notably boosted profits at major miners such as BHP, Glencore and Teck Resources, with BHP reporting a ~28% profit increase and planning expanded copper output. Demand drivers include renewable energy, AI data centres and EV infrastructure, which continue to underpin strong copper demand.

Malaysia’s Pahang Customs, with support from the Department of Environment, busted a transnational e-waste smuggling ring, seizing 8 containers (~186.7 tonnes) of undeclared “e-waste” falsely listed as copper concentrate to evade import permits. The estimated value of the seized material is ~RM2.15 million, with shipments sourced from Canada, Spain, and Croatia. Authorities confirmed that the goods will be returned to the origin countries in accordance with import prohibition regulations as the investigation continues.