According to the latest customs data, in January 2026, China’s imports of copper-zinc alloy (brass) bars and rods were 2,050.01 mt in physical content, down 8.37% MoM and up 24.53% YoY. In February, China’s imports of copper-zinc alloy (brass) bars and rods were 1,344.87 mt in physical content, down 34.4% MoM and down 36.67% YoY, showing an overall sharp decline. Cumulative imports in January-February 2026 were 3,394.87, down 9.94% YoY cumulatively. (HS codes 74072111, 74072119, 74072190).

On March 25, SHFE issued an announcement approving Guangdong CMST Shengshi Zhaobang Logistics Co., Ltd. as a copper delivery warehouse The original text was as follows: Announcement on Approving Guangdong CMST Shengshi Zhaobang Logistics Co., Ltd. as a Copper Delivery Warehouse Recently, our exchange received the relevant application materials from Guangdong CMST Shengshi Zhaobang Logistics Co., Ltd. In accordance with the Delivery Warehouse Management Measures of the Shanghai Futures Exchange and other relevant regulations, it was decided after deliberation that: I. Guangdong CMST Shengshi Zhaobang Logistics Co., Ltd. was approved to become a copper delivery warehouse of our exchange. The storage address is No. 108 Dongjiang Avenue, Huangpu District, Guangzhou, Guangdong Province, with an approved storage capacity of 20,000 mt, and no regional premiums will be applied. II. It will be put into operation as of the date of this announcement. All relevant parties should attach great importance to this matter, effectively carry out all related work, and ensure the normal and orderly conduct of delivery business. Hereby announced. Shanghai Futures Exchange Mar 2026 Click to view announcement details:

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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.

[SMM Midday Tin Commentary: Improving Macro Sentiment Drove a Rebound in Tin Prices, While Follow-Through in Spot Transactions Remained Limited]

The latest customs data showed that in February 2026, China’s imports of unwrought silver ingots with a purity of no less than 99.99% reached 206.76 mt, up 499% MoM and surging 5,910% YoY to a multi-year high. The rare opening of the import window drove significant changes in the supply-demand pattern of the domestic silver ingot market.