Shanghai Copper Discount to Narrow as Supply Remains Ample and Demand Steadies

Published: Mar 5, 2026 13:27

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Tomorrow, the spot discount for Shanghai copper is expected to steadily narrow. The C1-C2 spread continues to tighten, further weakening holders' willingness to deliver to warehouses. Supply remains ample due to consistent arrivals of domestic and price-locked imported copper, alongside high social inventories. On the demand side, ongoing operational resumption and lower futures prices have boosted dip-buying interest, supporting the discount. Overall, spot trading activity is expected to remain stable.

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