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- LME Aluminum 3M Select trades $-0.75 lower to $3254 at 8:21:13 AM
- LME Copper 3M Select trades $-16.25 lower to $14601.50 at 8:21:13 AM
- (Bloomberg) – Spot copper premiums in China have surged to the highest since 2021, underscoring physical supply constraints in the world’s biggest consumer. The premium for spot copper over front-month Shanghai futures — the price of which is also near record levels — jumped to 1,375 yuan a ton on Tuesday, before easing to 1,315 a ton, according to data from Shanghai Metals Market. Domestic inventories remain low, leaving the market vulnerable to bouts of tightness as fabricators stock up ahead of a run of national holidays that begin on Friday. The squeeze has been compounded by a drop in overseas arrivals. China’s refined copper imports fell 11% from a month earlier to 250,173 tons in August, the lowest since February, according to customs data. “It is widely anticipated that the refined copper import window will open this month, with imported copper gradually flowing into the market,” SDIC Futures Co. said in a note. “However, delivery will still take time, and spot supply will remain tight ahead of the holiday.” Other indicators are also flashing scarcity. The Yangshan premium, a gauge of demand for imported copper into China, is holding around levels not seen since 2022. Three-month copper on the London Metal Exchange edged 0.4% lower to $14,563 a ton as of 11:03 a.m local time, tracking losses in stock markets. Aluminum was down 0.2%, while zinc declined 0.6%. Iron ore futures were steady in Singapore.
- CME HRC Steel last traded at $1237 and $0 lower at 9/23/2026
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