Air Conditioner Export Unit Prices Rose in the First Two Months

On April 28, the Customs Tariff Commission of the State Council issued an announcement that from May 1, 2026 to April 30, 2028, zero tariffs will be applied in the form of preferential tax rates to 20 African countries that have established diplomatic relations with China but are not classified as least developed countries. This move will significantly reduce the import costs of African mineral resources. For the 33 African least developed countries that have established diplomatic relations with China, China has already applied zero tariffs to 100% of tariff lines for their products since December 1, 2024.

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, enterprises with pre-holiday stockpiling demand have largely completed their stockpiling activities, and market trading is likely to turn sluggish. From the supplier side, with month-end settlement approaching, willingness to sell remains weak. Cargoes with invoices dated this month are priced relatively high, and available low-priced supplies are limited, providing strong support for spot premiums. Supply side, the import window has opened, and expectations of ex-China cargo inflows are strengthening. However, considering logistics and customs clearance delays, the short-term impact on the spot market is limited, and attention should be paid to the pace of post-holiday arrivals. Overall, Shanghai spot copper prices against the 2605 contract are expected to maintain a premium tomorrow.