Shanghai spot copper] Tomorrow's spot premiums continue to recover. If the SHFE copper contango structure continues to widen, spot premiums will still decline.

Data Review: As of Monday, December 22, SMM's national mainstream copper inventories increased 1.57% WoW, with total inventory up 69,000 mt YoY.

SMM Analysis：According to the latest customs data, China imported 519,000 mt in physical content of zinc concentrates in November 2025, up 52.27% MoM (an increase of 164,500 mt in physical content) ...

During the day, silver prices rose sharply, and the spot-futures price spread for the most-traded ag2602 futures contract widened during the morning session, while suppliers' quotations still showed ...

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database ...

On December 22, SMM reported that according to customs data, China's imports of other antimony ore and its concentrates in November 2025 amounted to 3,637.04 tons. Compared to the import volume of ...

The most-traded SHFE tin contract rose to near 345,000 yuan/mt before coming under significant pressure, with trading focus gradually shifting to the 2602 contract.] ...

(1) On December 20, an enlarged meeting of the Party Leadership Group of the Ministry of Commerce was held in Beijing. The meeting emphasized that 2026 is the first year of the 15th Five-Year Plan, ...

According to customs data released by SMM on December 22, China's imports of other antimony ores and their concentrates in November 2025 reached 3,637.04 mt, a slight increase MoM from the 3,134.77 mt ...

Today in North China, spot prices of #1 copper cathode against the front-month contract were at a discount of 500-400 yuan/mt, averaging a discount of 450 yuan/mt, down 40 yuan/mt from the previous ...

High-Grade NPI Price Center Moves Up, Market Activity Still Awaits Recovery] Dec. 22 (SMM) - The average price of SMM 10-12% high-grade NPI was 885 yuan/mtu (ex-factory, tax included), up 1 yuan/mtu ...

In November 2025, China's total lithium carbonate imports were approximately 22,055 mt, down 8 % MoM, but up 15% YoY. The average import price was about $9,915/mt, up 11% MoM compared to the average ...