On March 13, 2026, China's copper smelting industry set a new historical record. According to SMM data, the imported copper concentrate index closed at -60.39 USD/dmt, officially breaking through the -60 USD level.

[SMM Copper Market] Since 2026, as copper prices have trended higher and the price difference between primary metal and scrap has widened, copper scrap has continued to flow into the smelting sector. Copper smelters in China have seen an increase in their inventory levels of cold materials, leading to a looser supply landscape in the cold materials market. As of February 27, 2026, SMM's spot RCs for blister copper and anode plates in China remained at high levels.

The operating rate for secondary copper rod was 20.17% in January 2026, exceeding the expected 18.56%, but decreased 0.25 percentage points MoM and 6.73 percentage points YoY. China's secondary copper rod market experienced a month of contradictions and stalemate amid unprecedented high copper prices and complex policy environments.

SMM Analysis: In January 2026, blister copper RCs in south China were quoted at 1,900–2,200 yuan/mt, with an average of 2,050 yuan/mt, up 550 yuan/mt MoM...

In January 2026, silver production increased by about 0.6% MoM and 9.91% YoY compared to January 2025.

On June 13, at the 2025 SMM (13th) Minor Metal Industry Conference - Rare and Scattered Metals Forum (Indium, Germanium, Gallium, Bismuth, Selenium, Tellurium), hosted by Shandong Humon Smelting Co., Ltd. and SMM Information & Technology Co., Ltd., Long Wensheng, General Manager of Changsha Aochang Nonferrous Metals Co., Ltd., elaborated on "The Current Application Status and Future Prospects of Minor Metal Selenium.