There was still restocking before the holiday, and the price spread between futures contracts was relatively large, stimulating spot premiums to fluctuate and rise. [SMM Southern China Spot Copper Cathode Weekly Review]

Imported copper cargoes arriving at Shanghai ports led to a significant inventory buildup, and the SHFE copper market continued to be sluggish. [SMM Shanghai Spot Copper]

Downstream buyers have largely completed restocking, but suppliers are still holding prices firm for shipments. [SMM South China Spot Copper]

Copper Inventories in Major Domestic Regions Continued to Build Up Before Chinese New Year [SMM Weekly Data]

South America Becomes Center of Critical Minerals Supply Chain, LME Copper and SHFE Copper Both Closed Higher Overnight [SMM Copper Morning Meeting Minutes]