[SMM Shanghai Spot Copper] Copper price center shifted upward during the day, and downstream enterprise consumption weakened. According to SMM, Shanghai spot copper remained around 106,500 yuan/mt. End-user cargo pick-up slowed down, and some copper semis processing enterprises in east China planned to shut down furnaces and cut production due to finished product inventories buildup, indicating that high prices further intensified the suppression of demand. In addition, entering the delivery month, although copper prices remained at a relatively high level, the inter-month Contango price spread between futures contracts stayed at 160-100 yuan/mt, and suppliers' willingness to ship to delivery warehouses increased somewhat. They held prices firm and held back from selling, providing some support for spot discounts. As a result, both buying and selling sentiment pulled back during the day, and actual transactions were sluggish. Overall, supported by the widening price spread between futures contracts that encouraged suppliers to hold prices firm, combined with high copper prices suppressing demand, Shanghai spot copper prices against the SHFE copper 2606 contract are expected to remain at a discount tomorrow, with limited room for the discount to widen further.

[SMM Shanghai Spot Copper] SHFE copper futures center shifted upward. Shanghai spot copper remained around 106,500 yuan/mt. End-user cargo pick-up speed slowed down. Some copper semis processing enterprises in east China planned to shut down furnaces and cut production due to the buildup of finished product inventories.

Driven by global economic integration and technological innovation, magnet wire, as a fundamental material for the electrical power and electronics industries, has seen continuously climbing demand. In 2025, the rapid development of China's NEV, smart power grid, and other industries injected strong momentum into the magnet wire industry. Meanwhile, tightening environmental protection regulations and rising technological barriers accelerated the industry's transition toward green production and intelligent manufacturing. The eastern region exhibited a notable industrial clustering effect, the central and western regions accelerated their industrial layout leveraging resources and policy support, and the northeast embraced new opportunities through the Belt and Road Initiative. Against this backdrop, Zhejiang Jinjia Special-Shaped Copper Co., Ltd. joined hands with SMM to jointly produce the which came into being at the right moment. Through data collection and regional analysis, the industry distribution map was created to reveal development characteristics and trends, providing a scientific basis for enterprise strategies, policy formulation, and investment decisions, and facilitating the high-quality development of China's magnet wire industry. (Claim your free distribution map:) Specializing in High-Precision Oxygen-Free Copper Product Series ▌Company Profile Zhejiang Jinjia Special-Shaped Copper Co., Ltd. , located at No. 3 Chuangzhi Road, Lijiaxiang Town, Changxing County, in the Changxing Sub-zone of the South Taihu Lake Industrial Cluster Area, covers a land area of 111.8 mu, with a total building area of 167,600 m² for workshops and office buildings. The company specializes in high-precision oxygen-free copper processing, professionally producing premium upward-cast oxygen-free copper rod, oxygen-free copper busbar, copper billet, and special-shaped copper semis, as well as high-precision oxygen-free copper plate and copper strip products . The company owns multiple sets of domestically advanced energy-saving and environmental protection upward continuous casting units, capable of providing clients with premium electrical oxygen-free copper rod in various specifications ranging from Ø8.0 to Ø35.0 mm. The company owns multiple sets of the most advanced domestic copper semis continuous extrusion units of various models and fully automatic copper busbar drawing and straightening integrated units, capable of providing clients with copper busbars and copper billets in various specifications, producing copper busbar products with widths of 320 mm and below, and producing copper billet products with diameters of Ø120 mm and below, with internal quality and oxygen content both exceeding national standard requirements. The company possesses strong mold design and development capabilities, enabling it to provide clients with technical support and develop special-shaped copper busbars and electrical special-shaped products. The company co-established a "production-academia-research" research base with the Continuous Extrusion Research Center of Dalian Jiaotong University. Relying on Dalian Kangfeng Technology Co., Ltd., it developed the world's first TLJ800U copper semis continuous extrusion unit. The commissioning of this equipment enables the company to provide clients with oxygen-free copper plate/sheet and strip with a thickness of 12–20 mm and a width of 420–630 mm. The company also collaborated with China Copper Industry Kunming Heavy Industry on a copper plate/sheet and strip rolling production line and its ancillary facilities. Once in operation, it can provide clients with copper plates, copper strips, and other products in various specifications. The company has obtained certifications for the ISO 9001-2015 Quality Management System, ISO 14001-2015 Environmental Management System, and ISO 45001-2018 Occupational Health and Safety Management System, strictly implementing standardized management to provide reliable assurance for product quality. ▌ Contact Information Xu Jianhua 139 5759 7472 SMM Contact Chen Xiaolong 180 1708 9983 Long press to scan the QR code for a free distribution map

SMM Morning Meeting Minutes: Last Friday evening, LME copper opened at $13,624.5/mt. In the early session, it experienced wild swings and dipped to $13,575.5/mt. Subsequently, the center of copper prices shifted upward, reaching a high of $13,678/mt, before fluctuating downward to finally close at $13,635/mt, up 0.18%. Trading volume reached 16,200 lots, and open interest stood at 269,000 lots, a decrease of 3,435 lots from the previous trading day, indicating bears reducing positions. Last Friday evening, the most-traded SHFE copper 2607 contract opened at 104,870 yuan/mt. In the early session, the center of copper prices fluctuated downward, touching a low of 104,420 yuan/mt. Subsequently, it fluctuated upward, reaching 105,280 yuan/mt, before moving sideways to finally close at 105,090 yuan/mt, up 0.58%. Trading volume reached 33,600 lots, and open interest stood at 172,000 lots, an increase of 627 lots from the previous trading day, indicating bulls adding positions.

SMM Morning Meeting Summary: Overnight, LME copper opened at $13,477.5/mt, dipped to $13,461/mt in early trading, then gradually shifted its center upward to reach $13,676/mt, and finally closed at $13,654.5/mt, up 1.69%, with a trading volume of 17,000 lots and open interest of 273,000 lots, down 3,375 lots from the previous trading day, indicating bears reducing positions. Overnight, the most-traded SHFE copper 2606 contract opened at 103,950 yuan/mt, touching a low of 103,950 yuan/mt right at the open, then shifted its center upward to reach a high of 105,190 yuan/mt, and finally closed at 105,030 yuan/mt, up 1.04%, with a trading volume of 37,000 lots and open interest of 133,000 lots, down 3,198 lots from the previous trading day, indicating bears reducing positions.

[SMM Shanghai Spot Copper][SMM Shanghai Spot Copper] Looking ahead to tomorrow, demand side, according to SMM, although copper prices retreated after a rapid rise, absolute prices remained at high levels. End-user cargo pick-up pace slowed down. Affected by the accumulation of finished product inventories, some copper semis processing plants in east China opted to shut down furnaces for maintenance or close part of their production lines to reduce the capital occupation risk caused by high finished product inventories. Overall, amid weak demand, Shanghai spot copper premiums against the 06 contract are expected to remain at a discount tomorrow, or widen slightly.

According to the latest data released by the General Administration of Customs on May 9, China's imports of unwrought copper and copper semis in April were 452,300 mt, with cumulative imports from January to April of 1.5672 million mt, down 9.8% YoY; China's imports of copper ore and concentrates in April were 2.3516 million mt, with cumulative imports from January to April of 9.9146 million mt, down 0.8% YoY. Export side, China's exports of unwrought aluminum and aluminum semis in April were 597,600 mt, with cumulative exports from January to April of 2.0533 million mt, up 8.9% YoY. Below are the detailed data (unit: 100 million yuan RMB): Note: "Flash data" refers to preliminary monthly aggregated customs statistics, subject to the official monthly data formed after corrections to original statistical records. (Wenhua Consolidated)

On May 14-15, 2026, the SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition will grandly open at the Suzhou International Conference Hotel, focusing on precise matchmaking across the cable industry chain. With full-chain resource integration and efficient supply-demand matching at its core, the exhibition builds a quality bridge for business negotiations and technical exchanges for industry partners. Rooted in the deep processing of copper-based new materials, focusing on high performance copper semis R&D and high-end copper conductor intelligent manufacturing, Aerospace (Yichang) Copper Technology Co., Ltd. is dedicated to process innovation and quality upgrading. The company will showcase core products including oxygen-free copper, low-oxygen copper, and copper-based alloys at the exhibition, demonstrating hardcore strength with aerospace-grade scientific and technological innovation processes, and joining forces with precision-crafted products to promote industrial synergy and jointly explore new frontiers of high-quality development in the copper semis industry. Aerospace Electric Group Co., Ltd. (hereinafter referred to as "Aerospace Electric") was founded in 1956, with a registered capital of 637 million yuan, total assets of 4.654 billion yuan, and over 1,800 employees, including 2 State Council Special Allowance experts and over 100 professionals with intermediate and senior titles. Products cover new energy power generation cables (wind power, PV); mine flame-retardant cables; rail transit power cables; NEV high-voltage cables and charging piles cables; general rubber-sheathed cables; power cables of 35KV and below; JP cables for aviation, aerospace, and naval vessels; overhead conductors (ground wires); environmental protection wiring; and copper rod and round copper wire for electrical use. On April 29, 2025, Aerospace (Yichang) Copper Technology Co., Ltd. (hereinafter referred to as Aerospace Copper) was established, dedicated to building a leading high performance copper semis manufacturing enterprise in China . The company is located in Baiyang Logistics Park, High-tech Zone, Yichang City, and is controlled by Aerospace Electric Group Co., Ltd. The Phase I project of Aerospace Copper focuses on the copper rod processing sector , specializing in two core products: upward continuous casting oxygen-free copper and continuous casting and rolling low-oxygen copper . Leveraging domestically advanced production lines, the company currently has 69 employees and possesses an annual processing capacity of 120,000 mt of copper rod. Its equipment automation level is industry-leading, with an annual output value exceeding 7 billion yuan. On July 30, 2025, the upward continuous casting production line of Aerospace Copper successfully started production. On August 15, 2025, the upward continuous casting production line successfully produced its first rod. On September 19, 2025, the continuous casting and rolling production line of Aerospace Copper successfully started production. On November 20, 2025, the continuous casting and rolling production line completed trial rod production. On November 23, 2025, the continuous casting and rolling production line officially produced rod. This marked that the Phase I project of Aerospace Copper is about to be fully completed and put into operation. In 2026, Aerospace Copper will gradually advance the construction of its Phase II project, building an entire industry chain encompassing R&D and production of copper conductors and copper-based alloys with cross-sections below 1,000mm² . The target is to achieve annual sales revenue exceeding 10 billion yuan, with completion and commissioning planned for October 2026, injecting strong momentum into the development of the wire and cable industry cluster in the Yijingjing'en metropolitan area. Aerospace Copper adheres to innovation-driven development, engaging in deep cooperation with universities such as Huazhong University of Science and Technology and China Three Gorges University to promote product upgrades and achieve localisation substitution in the copper alloy field. Meanwhile, the company advances intelligent and information-based equipment construction and cultivates high-quality technical talent. The company has established a comprehensive talent development system, providing skills training, dual channels for career advancement, and competitive compensation and benefits, creating a broad development platform for employees. Aerospace (Yichang) Copper Technology Co., Ltd., with quality as its foundation and innovation as its wings, continuously provides high-quality products to clients and co-creates value with partners! May 14-15, 2026, Jiangsu · Suzhou International Conference Hotel . Friends from all sectors are welcome to attend the conference in person and visit the booth of Aerospace (Yichang) Copper Technology Co., Ltd. (E16) to experience up close the technological strength and product appeal of this cable equipment R&D enterprise, explore new cooperation opportunities together, and open a new chapter for the industry. SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition May 14-15 Jiangsu · Suzhou International Conference Hotel Participating enterprises: Qifan Cable, Kunyi Cable, Senyuan Cable, Sanwu Cable, Huili Cable, Wanma Co., Ltd., Xinhai High Conductivity, Chenfeng Yongliang, Xinhuang Group, Dongwu Futures, Guojia Conductor, Hongxing Meike, Dongfeng Cable, Qijia Industry, Beijing Shougang Ferroalloy, Xinhongye, Yingtan Chaolong, Meichuangli, Jiuli Electric, Xinzi Nengke, Xindongang Electric, Aerospace Electric, Guochu Logistics, Jielüda, Jinhuijia, Xindian Aluminum Alloy, Gangwei Ultrasonic, Jinrui Qianyuan...... Click to View ☛ ｜

On May 14-15, 2026, the SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition will grandly open at the Suzhou International Conference Hotel, focusing on precise matchmaking across the cable industry chain. With full-chain resource integration and efficient supply-demand matching at its core, the exhibition builds a quality bridge for business negotiation and technical exchange among industry partners. Rooted in the non-ferrous metal deep processing sector and focusing on copper-based new material R&D and high-end metal product intelligent manufacturing, two strong enterprises have been deeply engaged in process innovation and quality upgrading. They will showcase high-end copper-based new materials and precision metal products at the exhibition, demonstrating hardcore strength through scientific and technological innovation, and fostering industrial cooperation through fine craftsmanship and premium products, jointly exploring new frontiers in the non-ferrous metal industry. Luohe Jinpusen Metal Technology Co., Ltd. was established on June 6, 2022, with a registered capital of 66 million yuan. It is a company integrating R&D, manufacturing, sales, and services of metal products. The company's total project investment was 260 million yuan, covering an area of 68 mu with a building area of 18,000 m². Jinpusen emphasizes technological innovation and R&D investment, possessing a professional R&D team and advanced production equipment. In accordance with internationally advanced copper rolling and processing technologies and process standards, the company has implemented the "Annual Production of 80,000 mt Copper Rod and 30,000 mt High-Purity Oxygen-Free Copper Wire Project" and the "Annual Production of 110,000 mt Non-Ferrous Metal Processing Project" . By introducing advanced copper rolling and processing technologies from in and outside China, Jinpusen has continuously improved product quality and performance. With scientific research innovation, process quality, and comprehensive services, the company has earned market recognition and client acclaim. Its products are widely used in military industry, automotive, State Grid Corporation of China, electronics, new energy, smart transportation, and many other fields. Business Scope: Using high copper content Grade 1 copper as raw material, the company is primarily engaged in the technical R&D, manufacturing, and sales of copper metal materials and related products; metal product manufacturing, processing, and sales; manufacturing, processing, and sales of bright low-oxygen copper rod, oxygen-free copper rod, copper busbar, high-precision copper wire, alloy composite copper wire, high-precision copper plate/sheet and strip, and copper pipe & tube; copper metal wire drawing processing, etc. Luohe Yuanheng New Materials Co., Ltd. was established on August 8, 2024, with a registered capital of 50 million yuan. It is a modern enterprise focused on the new materials sector. Yuanheng New Materials has introduced internationally advanced non-ferrous metal rolling and processing production lines, combined with independently developed precision processing techniques, enabling high-precision and high-efficiency rolling and processing of various non-ferrous metal raw materials. Its main products include bright low-oxygen copper rod, oxygen-free copper rod, anode plates, and copper metal wire drawing products, which are widely used in high-end manufacturing fields such as electronic information, aerospace, and new energy. In 2025, the company achieved an annual output value of 5.3 billion yuan, with annual tax payments of 450 million yuan. The output value is expected to reach 7 billion yuan in 2026. Yuanheng New Materials has always upheld the development philosophy of "Innovation, Quality, Green, and Win-Win" , committed to technological innovation and sustainable development. The company will continue to increase investment in R&D and resource recycling, deepen upstream and downstream cooperation, and strive to enhance core competitiveness, facilitating the green, intelligent, and high-end development of the new materials industry. May 14-15, 2026, Jiangsu · Suzhou International Conference Hotel . Friends from all sectors are welcome to attend the conference in person and visit the booths of Luohe Jinpusen Metal Technology Co., Ltd. and Luohe Yuanheng New Materials Co., Ltd. (E27) to experience up close the strength of high-precision copper semis intelligent manufacturing and the innovative charm of high-end new materials, explore new cooperation opportunities, and open a new chapter for the industry together. SMM WCCE 2026 (4th) Wire & Cable Industry Development Conference and Industrial Exhibition May 14-15 Jiangsu · Suzhou International Conference Hotel Participating enterprises: Qifan Cable, Kunyi Cable, Senyuan Cable, Sanwu Cable, Huili Cable, Wanma Co., Ltd., Xinhai High Conductivity, Chenfeng Yongliang, Xinhuang Group, Dongwu Futures, Guojia Conductor, Hongxing Meike, Dongfeng Cable, Qijia Industrial, Beijing Shougang Ferroalloy, Xinhongye, Yingtan Chaolong, Meichuangli, Jiuli Electric, Xinzi Nengke, Xindongang Electric, Aerospace Electric, Guochu Logistics, Jielüda, Jinhuijia, Xindian Aluminum Alloy, Gangwei Ultrasonic, Jinrui Qianyuan... Click to View ☛ ｜

March production was broadly in line with expectations, increasing by 63,700 mt from February on a MoM basis to a record high.