SMM Copper Alert: LME Backwardation Spikes, SHFE Imports at Loss, Export Preps Rise

Published: Oct 14, 2025 09:54

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【SMM Copper Market Update】The LME October date is expected to expire soon. On October 13, the LME Cash-3M copper backwardation surged by over $200/mt, with the SHFE copper 2510 contract showing an import loss of nearly 3,000 yuan/mt and the SHFE copper 2511 contract recording an import loss exceeding 1,300 yuan/mt. Prior to the National Day holiday, some copper smelters had already begun preparing for exports, and export volumes are likely to increase.

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