[Latest Data From the General Administration of Customs] In February 2026, China exported 109,300 mt of copper wire and cable, down 18.56% MoM and up 48.96% YoY. Wire and cable exports totaled 224,100 mt in February, down 19.88% MoM and up 47.5% YoY. (HS codes: 85444921, 85444929, 85446012, 85446013, 85446014, 85446019, 85446090)

[Cumulative Copper Wire and Cable Exports in January-February] According to data from the General Administration of Customs, in January-February 2026, China's cumulative wire and cable exports totaled 503,800 mt, up 22.52% YoY. Of this, cumulative copper wire and cable exports in January-February reached 243,500 mt, up 34.9% YoY.

Today, the average price of tax-inclusive Bare Bright Wire in Zhejiang was quoted at 93,700 yuan/mt, marking a daily increase of 700 yuan/mt. The deduction (relative to SMM ChangJiang copper prices) remained stable within the range of 300-400 yuan/mt. Due to recent high-level price pullbacks and sharp market volatility, a strong "wait-and-see" sentiment has emerged, leading to sluggish spot trading performance. Industry experts believe the market is currently in a stalemate. However, trading volumes are expected to bottom out and rebound once prices stabilize or regain their upward momentum.

【SMM Steel】Peru's INDECOPI is reviewing evidence to decide whether to impose final AD duties on Chinese wire rod. However, several local firms strongly oppose the move, arguing it would favor sole steelmaker Aceros Arequipa, creating a domestic monopoly as its capacity can't meet total demand. Opponents say imported wire rod is vital for their efficiency and competitiveness. They argue tariffs would distort prices, harm projects, and benefit one firm at the expense of the whole value chain.

SMM, March 24: Overnight, LME lead opened at $1,889/mt. In early trading, LME lead fluctuated downward, dipping to $1,873.5/mt. Then bulls stepped in, driving prices sharply higher, with wide swings in the $1,888.5-1,909/mt range and a session high of $1,909/mt. Near the close, bullish momentum somewhat faded, and LME lead edged down slightly to finally close at $1,898.5/mt. It posted a small bullish candlestick, up $9.5/mt, or 0.5%. Overnight, the most-traded SHFE lead 2605 contract opened higher with a gap at 16,495 yuan/mt. In early trading, SHFE lead prices briefly fluctuated upward, reaching a high of 16,510 yuan/mt. It then saw wide swings in the 16,440-16,500 yuan/mt range. During the session, SHFE lead fluctuated downward, falling to 16,405 yuan/mt. Late in the session, SHFE lead prices stabilized slightly and rebounded, finally closing at 16,435 yuan/mt. It posted a small bearish candlestick, up 40 yuan/mt, or 0.24%. Supply side, discounts quoted by primary lead enterprises narrowed slightly WoW, and among cargoes self-picked up from production site, heavily discounted cargoes were also hard to find. The number of enterprises quoting secondary refined lead was relatively small, and there were clear differences between upstream and downstream in price acceptance: downstream had low acceptance of premiums, while upstream held firm offers and showed cautious willingness to sell. Demand side, procurement by downstream enterprises was somewhat scattered. Some mainly made purchases under long-term contracts, while others bought the dip as needed, resulting in differentiated market transactions. SMM expects SHFE lead prices to remain in the doldrums in the short term.

SMM News, March 24: Aluminum ingot: On March 24, SMM A00 aluminum (Foshan) was reported at 23,440, up 30, at a discount of 170 against the current-month contract, narrowing by 5 (unit: yuan/mt) The SHFE aluminum 04 contract generally stabilized today. Supported by aluminum prices halting their decline and edging up slightly, the South China spot market stabilized and improved, and buyers generally showed good purchasing sentiment today. Spot prices were significantly below the monthly average price, and sellers firmly held prices firm. However, amid weekend inventory buildup and ample circulating cargo, overall support for firm prices was clearly constrained under high inventory pressure. Mainstream transaction prices in the market today were concentrated at premiums of -175 yuan/mt to -165 yuan/mt against the SHFE aluminum 04 contract.