Under supply and demand support, tomorrow's Shanghai copper spot prices are likely to remain at a discount

K-LinePoet · 2026-04-08T18:16:38+00:00

Looking ahead to tomorrow, the Shanghai copper spot market faces pressure. Some suppliers are increasingly willing to hold their prices, and circulating supplies in Jiangsu are relatively tight. On the demand side, downstream companies are resuming work actively, and there is support from essential purchases. It is expected that the Shanghai copper spot price will remain at a discount.

K-LinePoet

2026-04-08 18:16:38

Abstract generation in progress

Looking ahead to tomorrow, the spot copper market in Shanghai remains under sustained pressure. From the supply side, although some holders have sold off inventory during the day, the discount (basis) has not widened noticeably. Going forward, holders’ willingness to hold prices is strengthening; some companies are also controlling their shipment pace, which provides support for the spot market. In Jiangsu, available tradable supply is tight, further boosting holders’ price-holding intent. On the demand side, the first trading day after the Qingming holiday saw downstream companies return to work with relatively high enthusiasm, with purchasing sentiment recovering and underlying procurement demand providing support. Overall, under the combined effect of holders holding firm and downstream replenishing inventories, it is expected that tomorrow’s Shanghai copper spot will maintain a discount versus the 2604 contract quote. (SMM)

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.

2 Likes