Domestic electrolytic copper social inventory surges during the holiday, reaching a five-year high

On the supply side, imported and domestic goods are arriving in concentrated shipments, with some goods still queued for storage. Coupled with traders actively stocking up driven by delivery deadlines, and the continued weak consumption during the Spring Festival on the demand side, these factors have jointly led to a significant accumulation of inventories. According to SMM data, as of February 24, 2026, social inventories of electrolytic copper in major regions within China have increased by 154,900 tons during the holiday period, reaching a five-year high, with the total surpassing 500,000 tons. (Shanghai Nonferrous Metals Network)