Shanghai Copper Spot Market Expected to Stay Strong with Firm Premiums

Published: Apr 13, 2026 14:00

Save

Looking ahead, the Shanghai copper spot market is expected to remain strong. Although some holders sold off part of their inventories at low prices during the day, this did not suppress the spot premium/discount; overall quotes stayed firm, reflecting strong support for the current premium. From the delivery logic, as the delivery date approaches, the inter-month Contango spread remains at a certain width, and holders' willingness to hold positions for delivery supports the spot premium. Additionally, tomorrow some holders may start making tentative quotes for the next-month contract, shifting market focus to post-rollover pricing. In summary, the spot premium over the 2604 contract for Shanghai copper is expected to remain.

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

1 hour ago

Data: SHFE, DCE market movement (Apr 13)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 Apr , 2026

1 hour ago

2 hours ago

China Copper Inventories Saw Five Consecutive Weeks of Destocking, the Most-Traded BC Copper Futures Contract Closed Up 1.37% [SMM BC Copper Review]

2 hours ago

3 hours ago

Price Spread Between Futures Contracts Maintained Delivery Logic Dominance, Shanghai Spot Copper Premiums Stabilized at Highs [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the Shanghai spot copper market is expected to continue its relatively strong trend. In terms of market performance, although some suppliers engaged in offloading behavior during the day by selling part of their cargoes at low prices, this did not suppress spot premiums, with overall quotes remaining firm, reflecting strong support below current premium levels. From the delivery logic perspective, as the delivery date draws closer, the inter-month Contango price spread between futures contracts still maintains a certain width, and suppliers have a strong willingness to hold open interest for delivery, providing support for spot premiums. In addition, some suppliers may begin to make tentative quotes against the next-month contract tomorrow, with market focus gradually shifting toward pricing after the contract rollover. Overall, spot copper prices against the SHFE copper 2604 contract are expected to maintain a premium tomorrow.

3 hours ago