LME/COMEX Copper Spread Widens Significantly in May

Published: May 13, 2026 10:03

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Copper Cross-Market Spread: Since entering May, the LME/COMEX copper spread has continued to widen. According to SMM data, the highest spread between the LME and COMEX nearby copper contracts expanded from US$108.61/mt on April 30 to US$378.5/mt on May 13, marking a notable widening within the month.

Based on current spot trade feedback, no significant change has yet been observed in refined copper trade flows. At present, China’s imported copper arrivals and transactions are still mainly influenced by factors such as the import arbitrage ratio, domestic spot demand, and the execution of overseas long-term contracts.

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.

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