Shanghai Copper Spot Discount Expected to Continue Recovery and Gradually Stabilize

K-LinePoet · 2026-03-24T12:28:03+00:00

Looking ahead, Shanghai copper spot discount is expected to continue its modest recovery trend. Futures prices have declined somewhat, while downstream enterprise orders have increased. From a market structure perspective, the month-on-month C-month spread has narrowed, and holders' willingness to roll positions may have declined. On the supply side, domestic copper and previously locked-in import sources continue to arrive, coupled with social inventory remaining at elevated levels, making overall market circulation supply ample. On the demand side, downstream enterprises' resumption of work and production continues to advance, providing some support to spot premiums and discounts. Taken together, spot premiums and discounts are showing a pattern of gradual recovery and progressive stabilization. (Shanghai Nonferrous Metals)

K-LinePoet

2026-03-24 12:28:03

Looking ahead to tomorrow, the Shanghai copper spot discount is expected to continue a slight recovery trend. Prices on the market have declined somewhat, and downstream companies have increased their orders. From a market structure perspective, the next-month C spread has narrowed, and holders’ willingness to deliver may have decreased. On the supply side, domestic copper and previously locked-in imported sources continue to arrive, combined with social inventories remaining high, resulting in an overall ample circulation of goods in the market. On the demand side, downstream companies are steadily resuming work and production, supporting the spot premium and discount. Overall, the spot premium and discount are showing a slow recovery and gradual stabilization. (Shanghai Nonferrous Metals Network)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.