Shanghai copper breaks through 100,000 yuan mark again, downstream purchasing sentiment cools

K-LinePoet

2026-03-18 01:09:51

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Intraday Shanghai LME copper March 2603 contract once again fell below the 100,000 yuan mark. It opened lower at 99,500 yuan/ton in the morning and continued to decline, with an intraday low of 98,640 yuan/ton. According to SMM research, trading activity in the spot market today significantly decreased compared to March 9, when the contract first broke below 100,000 yuan, showing a generally subdued trading atmosphere. SMM recorded that on March 14, 2026, the Shanghai spot market procurement sentiment index was 2.53, and the sales sentiment index was 2.63, both down 0.29 from March 9. Historical data can be checked in the database.

According to SMM, when copper prices fell below 100,000 yuan on March 9, some companies had inventory replenishment needs, which temporarily boosted spot trading to its post-Lunar New Year high. However, market feedback today suggests that futures contract rollovers may have influenced the market, but copper prices once again stayed below the 100,000 yuan level, possibly weakening the attractiveness to downstream companies.

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