Archive · 10 Jan 2026
Chinese Copper Demand Drops Amid Record High Prices
Copper prices have reached record highs, which means it's more expensive to buy.
In China, the biggest market for copper, people are buying less because of these high prices.
Even though some investors are excited and buying copper for the future, real factories and businesses aren't buying as much.
This is because the economy isn't doing well, and people aren't making as many things that need copper.
There's also a lot of copper stored up, which isn't usual.
Some sellers are offering lower prices to get people to buy, but not many are taking the offer.
It's a bit confusing because some people are willing to pay more to get copper, but others aren't buying at all.
Copper prices hit record highs, surpassing $13,000 per tonne on the LME and 100,000 yuan per tonne in Shanghai.
Chinese buyers are significantly reducing copper purchases due to high prices and slow industrial demand.
Refined copper inventories in Shanghai exceeded 145,000 tonnes, an eight-year high.
Codelco offered copper at a premium of $350 per tonne over LME prices for 2026 contracts, but few Chinese importers are signing up.
Some Chinese smelters are offering lower premiums for exports, with prices as low as $30 per tonne for smaller amounts.
- Who
- Chinese buyers, copper suppliers, Codelco, traders in Asia
- What
- Decrease in copper purchases by Chinese buyers due to record high prices
- When
- End of December, with effects continuing into the current period
- Where
- China, with mentions of the US and Chile
- Why
- High copper prices, slow industrial demand, and economic factors
- Copper Price
- $13,000 per tonne on LME, 100,000 yuan per tonne in Shanghai
- Price Increase
- Almost 50% over the previous year
- Shanghai Inventories
- 145,000 tonnes, an eight-year high
- Codelco Premium
- $350 per tonne over LME prices for 2026 contracts
- Chinese Importer Premium
- $100 per tonne
- Export Premium
- $30 per tonne for smaller amounts, lower for larger amounts