Surging copper prices hinder LT contract talk in Southwest China

The surge in prices of refined copper in China's market that has seen prices in the domestic spot market jump 21.50% between November 3 last year and January 30 to reach new record highs is delaying the settlement of long-term (LT) contract negotiations between the leading smelters and downstream copper semis producers, as well as between copper semis enterprises and end-users, in Southwest China for 2026 deliveries.

In previous years, most LT contract talks for the coming year in China's copper market would be settled by late December, but the results of Mysteel's recent survey among 56 refined copper trading enterprises (including traders, smelters, and downstream fabricators) nationwide published on January 29 suggest that the talks have been progressing