Copper Spot Premiums Under Pressure as Supply Outweighs Demand, SHFE Faces Challenges

Published: Apr 17, 2026 12:02

Save

Looking ahead to next week, on the supply side, some delivery warrants have already begun to flow out during the day, suppressing spot premiums. Market concerns over the concentrated release of warrants going forward persist, and suppliers have a strong willingness to sell, putting spot premiums for SHFE copper under pressure. On the demand side, and downstream procurement was mainly driven by rigid demand, with insufficient willingness to chase higher prices. In addition, the spot premium price spread between Shanghai and Guangdong continued to rise to around 150 yuan/mt during the day. The strong premiums in Guangdong may provide some support to Shanghai market sentiment, but it is difficult to reverse the overall weak supply-demand pattern in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

After Delivery, Sharp Drop in Copper Prices Curbs Suppliers' Shipments [SMM Secondary Copper Daily Review]

4 hours ago

LME Copper Inventories Rise by More Than 10kt in Two Days, Copper Prices Touch $14,000 at Low Levels

LME copper inventories increased for two consecutive trading sessions. On August 14, LME copper inventories increased by 2,850 mt to 207,800 mt, and on August 17, inventories further increased by 15,700 mt to 223,600 mt. The cumulative increase over the two trading sessions was 18,600 mt, representing a growth rate of about 9.1%. In particular, warehouse inflows reached 17,500 mt on August 17, driving a sharp rebound in inventories that day. In terms of warrant structure, as of August 17, LME copper registered warrants increased to 123,100 mt, up by 20,000 mt from August 14. Registered warrants increased significantly and the ratio of cancelled warrants declined; as inventories increased, intraday copper prices touched a low of around $14,000/mt.

4 hours ago

Shanghai Guochu Supports the Creation of the Bilingual Chinese-English Edition of the 2027 SMM China Copper Industry Chain Distribution Map.

4 hours ago