in January-February 2026, China’s copper plate/sheet and strip exports were still dominated by copper strip, with exports of 14,151 mt, accounting for 65% and up 23.8% YoY, serving as the core driver boosting overall exports.

The structure of China’s copper plate/sheet and strip export trade modes continued the characteristics seen in the previous period. Customs data showed that in January-February, processing trade with imported materials remained the core export mode, with exports of 14,335 mt, accounting for 66.3% and firmly maintaining its dominant position; Processing and Assembling exports were 3,655 mt, accounting for 16.9%; Ordinary Trade exports were 2,182 mt, accounting for 10.1%; and other trade modes totaled 1,458 mt, accounting for 6.7%.

According to data from the General Administration of Customs, China’s copper plate/sheet and strip exports were 13,233.73 mt in January 2026, up 30.59% MoM and up 27.53% YoY; in February, exports were 8,395.28 mt, down 36.56% MoM and up 11.87% YoY. In January-February, China’s cumulative copper plate/sheet and strip exports reached 21,629.01 mt, up 20.96% YoY cumulatively.

According to SMM, the operating rate of the copper plate/sheet and strip industry was 41.98% in February 2026, down 28.04 percentage points MoM and down 14.49 percentage points YoY. Among them, the operating rate of large enterprises was 47.35%, that of medium-sized enterprises was 35.28%, and that of small enterprises was 31.80%.

Affected by policies related to secondary copper, production costs for copper plate/sheet and strip enterprises have risen, and processing fees have been raised accordingly. According to SMM, processing fees for brass strip have generally increased recently, with H65 brass strip processing fees quoted at above 2,000 yuan/mt.

In February, the overall operating rate of copper plate/sheet and strip enterprises was 41.98%, down 28.04 percentage points MoM and down 14.49 percentage points YoY. Affected by the Chinese New Year holiday, the actual number of production days for copper plate/sheet and strip enterprises was relatively low, limiting capacity release. The operating rate showed a seasonal pullback, which is a normal performance during the Chinese New Year period and was broadly in line with market expectations.

In March, the operating rate of the copper plate/sheet and strip industry is expected to be 74.28%, up 32.31 percentage points MoM and up 5.15 percentage points YoY. According to SMM, enterprise orders recovered relatively well after the holiday; after the center of copper prices pulled back in early March, orders were released quickly, and end-use demand from power, home appliances, NEVs, electronics, and other sectors all showed improvement. Most enterprises hold optimistic expectations for post-holiday orders, with both orders and production schedules pointing to peak-season levels.

According to SMM, the copper plate/sheet and strip industry has fully resumed production, and downstream cargo pick-up is moderate, but most orders are mainly for pre-holiday shipments, and new orders are relatively weak. As the impact of the holiday gradually subsides, enterprise production will return to normal, and it is expected that the industry operating rate will rebound to over 70% next week.

In 2026, the duration of the Chinese New Year break for copper plate/sheet and strip enterprises is characterized by "mostly remaining flat, with some increases." The number of break days varies significantly among enterprises, ranging from a minimum of 3 days to a maximum of 26 days, with notable differences based on scale. Large enterprises generally adhere to the statutory holiday, with break durations similar to previous years, while small and medium-sized enterprises commonly extend their breaks, with significantly longer holiday periods than large enterprises.

As the extended Chinese New Year holiday approaches, SMM conducted a survey of 12 domestic copper plate/sheet and strip enterprises (with a combined annual capacity of 1.441 million mt): In 2026, the duration of the Chinese New Year break for copper plate/sheet and strip enterprises is mainly flat or increased, with clear overall industry break characteristics and core driving factors, as detailed below: