Data: SHFE, DCE market movement (Jan 18)

[SMM Analysis: Divergent Stockpiling and Spreading Production Halts: A Survey of Secondary Copper Rod Enterprises' Pre-Holiday Stockpiling Ahead of the National Day Holiday] With the National Day holiday approaching, SMM conducted a survey on pre-holiday stockpiling and production arrangements among 19 secondary copper rod enterprises across eight provinces and cities—Anhui, Hubei, Hebei, Tianjin, Guangdong, Jiangxi, Sichuan, and Henan—with a combined annual capacity of 2.19 million mt. The survey results show a stark "two extremes" pattern in the industry: nine enterprises are in a state of production halt, involving an annual capacity of 990,000 mt, accounting for about 45% of the total sample capacity; among the enterprises still operating, raw material stockpiling is generally cautious, with ten enterprises reporting zero raw material stockpiles, and the pre-holiday "stockpiling wave" did not materialize as expected. .....

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Sep , 2026