China Copper Market Gauge Hits 16-Month High on Demand Flurry

A gauge of strength in China’s copper market has jumped to the highest since late 2023 as buyers scramble to secure supplies.

The Yangshan premium — named after a key Shanghai trade terminal — jumped from a low of $35 a ton in late February to $94 on Tuesday, according to data from researcher Shanghai Metals Market.

The premium is paid by buyers on top of exchange prices for imported copper, and the sharp rebound reflects tightness in the market as trade tensions persist. Traders in China have reported a burst of strong domestic demand, and stockpiles in Chinese warehouses ...