Post-Holiday Consumption Recovery Remains Sluggish, Spot Discounts Under Pressure

Published: Feb 26, 2026 14:45

Save

On Thursday this week, the average spot price of copper cathode in Shandong Province was at a discount of 470 yuan/mt. After the holiday, downstream copper processing enterprises gradually resumed operations, but the recovery in consumption was relatively slow. Enterprises were still digesting pre-holiday inventory, resulting in sluggish procurement. Smelters faced significant shipment pressure after delivery, and weak supply-demand conditions drove discounts lower. It is expected that next week, as enterprises fully resume operations, demand will rebound to some extent. However, under the pressure of high social inventory, the room for spot discount recovery will be limited.

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

14 mins ago

Data: SHFE, DCE market movement (Feb 26)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 26 Feb , 2026

14 mins ago

53 mins ago

Yili Company's Smelting Plant Achieves Full Production, Produces First Matte Batch Successfully

The smelting plant of the Yili Company, subordinate to Xinjiang Nonferrous Metals Industry (Group) Co., Ltd., has achieved full production process connectivity for its secondary resources comprehensive utilization project, successfully producing the first batch of matte.

53 mins ago

1 hour ago

Chile's New Right-Wing Government to Reassess Mining Policy in World's Largest Copper Producer

Chile is entering a new political phase as a right-wing government prepares to take office, putting mining policy under renewed scrutiny in the world’s largest copper-producing country.

1 hour ago