According to the latest data disclosed by the General Administration of Customs, China’s imported copper cathode market, while maintaining the 2025 baseline, is facing dual challenges: the continued rise in the share of EQ copper and whether global supply will continue to be diverted. China’s cumulative copper cathode imports in January-February 2026 totaled 356,900 mt, down 33.13% YoY.

Recently, Joint Circular No. 00156 of the Ministry of Finance and the Ministry of Mines of the DRC / Cabinet of the Ministry of Mines / 2026 and Cabinet of the Ministry of Finance / 2026, concerning regulatory measures to standardize control over deviations in the detection of refined cobalt content in exported cobalt hydroxide under the quota system framework of the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets in the DRC, is translated as follows: The English translation of the above text is:

UBS Chairman Colm Kelleher said on Wednesday (April 5) that there are "significant risks" in the integration of Credit Suisse and that the full integration will take a long time.

Oil prices fell to 15-month lows as Switzerland's second-largest lender Credit Suisse fell into crisis after the collapse of two US banks, leading to its takeover by rival UBS.

LME and SHFE base metals closed with losses last night.

Six major central banks jointly acted to provide liquidity for the US dollar to alleviate the banking liquidity crisis last week. Combined with Credit Suisse being acquired by UBS under the intervention of the Swiss government, market panic over banking liquidity risk eased, and risk aversion abated. In this scenario, copper prices gradually rallied.

SHFE copper declined 3.45%, aluminium lost 1.20%, lead sank 0.10%, zinc fell 3.41%, tin tumbled 4.79%, and nickel shed 2.3%.

Affected by the liquidity crisis facing Credit Suisse, SHFE 2304 tin contract declined yesterday night and closed at 179,300 yuan/mt, down 4.17%.

This is a roundup of global macroeconomic news last night and what is expected today.

The Silicon Valley Bank collapse aroused pessimism in the market early last week.