Shanghai Copper Prices Pull Back, Downstream Activity Surges

Copper prices in Shanghai retreated from the previous trading day's highs, with the SHFE copper contract for March 2609 trading between 109,000 and 109,700 yuan per metric ton. The price correction led to increased activity among downstream processors, who took advantage of the lower pricing to make purchases.

According to SMM, several processing enterprises engaged in concentrated pricing during the overnight session, resulting in a significant increase in overall pricing volumes compared to the previous day.

The surge in pricing activity was accompanied by a notable improvement in inquiries and transactions in the Shanghai spot copper cathode market.