According to the latest report released by the World Bureau of Metal Statistics (WBMS), in March 2026: global primary aluminum production reached 5.6333 million mt, while consumption was 5.9774 million mt, indicating a supply deficit of 344,100 mt; during the same period, global copper cathode production was 2.2792 million mt, with consumption at 2.1357 million mt, resulting in an oversupply of 143,500 mt.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,093.5/mt. Early in the session, the center of copper prices gradually moved lower and fell to $11,754/mt, then fluctuated upward to a high of $12,228.5/mt, before seeing wide swings and finally closing at $12,211.5/mt, down 1.05%. Trading volume reached 46,900 lots, open interest stood at 288,600 lots, an increase of 239 lots from the previous trading day. Overnight, the most-traded SHFE copper 2605 contract opened at 92,500 yuan/mt and fell to 91,820 yuan/mt early in the session. The center of copper prices then fluctuated upward to a high of 95,530 yuan/mt, before fluctuating rangebound and finally closing at 94,920 yuan/mt, down 0.91%. Trading volume reached 153,000 lots, open interest stood at 197,000 lots, down 6,302 lots from the previous trading day, mainly due to long liquidation.

On Wednesday, December 17, the latest report from the World Bureau of Metal Statistics (WBMS) showed that global refined nickel production in October 2025 was 326,400 mt, consumption was 297,200 mt, resulting in a supply surplus of 29,100 mt.

On Wednesday, November 19, the latest report released by the World Bureau of Metal Statistics (WBMS) showed that global refined tin production reached 32,500 mt in September 2025, while consumption stood at 27,600 mt, resulting in a supply surplus of 4,900 mt.

On Wednesday, September 17, the World Bureau of Metal Statistics (WBMS) released data on its website showing the global production and consumption of refined nickel, refined lead, primary aluminum and refined tin, with details below.