April 7 quotation of scrap copper in Guangdong

The 2026 semi-annual report disclosure season has concluded, and publicly listed firms across China's copper foil industry chain delivered impressive interim results. Driven by the combined demand resonance of continued growth in ESS installations, rising NEV penetration rates, and accelerating AI computing infrastructure construction, the industry has emerged from a two-year trough and entered an upward cycle of "rising volumes and prices." ......

Affected by supply-side factors, arrivals in Guangdong have continued to decline recently, causing social inventory to fall for 12 consecutive trading days, and it has now dropped to less than 10,000 mt. Stimulated by this, suppliers are actively holding prices firm, and today’s standard-quality copper quotes have risen to 220 yuan/mt, up 60 yuan/mt WoW. It is expected that there is still upside room ahead.

SMM Morning Meeting Summary: Overnight, LME copper opened at $14,240/mt, swung wildly in early trading to hit a high of $14,280/mt, then the price center fell sharply, dipping to $14,185/mt near the end of the session, and finally closed at $14,192.5/mt, down 0.65%, with trading volume of 21,000 lots and open interest of 265,000 lots, a decrease of 4,800 lots from the previous trading day, reflecting long liquidation. Overnight, the most-traded SHFE copper 2610 contract opened at 108,500 yuan/mt, with the price center falling sharply in early trading to a low of 108,150 yuan/mt, then drifting higher to reach 108,750 yuan/mt near the end of the session, and finally closed at 108,610 yuan/mt, down 0.83%, with trading volume of 51,000 lots and open interest of 217,000 lots, a decrease of 7,406 lots from the previous trading day, reflecting long liquidation.