Lunar New Year Slowdown Weighs on Asian Copper Scrap Demand; Korea Discounts Fall Sharply While Japan Holds Firmer

Published: Feb 6, 2026 10:51

Save

China will enter Lunar New Year holidays next week, with logistics and scrap traders suspending operations, ending pre-holiday restocking. As the world’s largest copper scrap consumer steps back, demand across Asia has weakened. South Korea has seen clearer pressure, with No.2 scrap discounts falling from around 90% to 88%–89%. Japan, without a holiday shutdown, shows only a mild adjustment of about 0.5% in discounts.

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 to learn 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

Feb 14, 2026 10:40

Zambia Suspends Mopani Copper Mine Operations Over Safety Concerns

Zambia’s mining regulator said it had suspended operations at Mopani Copper Mines’ Mufulira mine after it failed to account for all its underground stuff.

Feb 14, 2026 10:40

Feb 14, 2026 10:30

[SMM Analysis] China Accelerates the Construction of a Peripheral Copper Resource Supply Belt

[SMM Analysis: Key Anchor in Great Power Rivalry: The U.S. "Project Vault" and the Changing Resource Landscape in Latin America] Amid the current accelerated reshaping of the global resource competition landscape, China's copper concentrate import pattern is undergoing a profound structural transformation. The latest trade data from 2025 clearly outlines this trend: China is significantly enhancing its capacity to acquire copper concentrate resources from neighboring countries.

Feb 14, 2026 10:30

Feb 14, 2026 09:19

SMM Chinese New Year Holiday Price Update Notice

As the Chinese New Year holiday is around the corner, Shanghai Metals Market (SMM) hereby informs you of our metal price update arrangement during the holiday period to ensure you can make proper arrangements for your work and business.

Feb 14, 2026 09:19