19–23 October 2026 / W43
Weekly Copper Brief
Copper futures, exchange inventories, brass operating rates, product prices and European drinking-water material requirements.
01 / Issue highlights
Issue highlights
01Copper futures: LME, SHFE and COMEX
LME three-month copper, the SHFE most-active contract and the COMEX copper reference, with quotation dates, currencies and units.
Currency, tax basis, delivery location and trading hours differ across these references. Unadjusted quotations do not represent a comparable cross-market spread.
02LME stocks and brass operating rates
LME stocks of 273,750 tonnes, 62% in the US; Chinese brass rod and billet operating rates of 50.43% and 47.46%.
Exchange inventory and available physical supply are different measures. Warehouse location, warrant status and statistical coverage affect the interpretation.
03EU requirements for drinking-water materials
Decision (EU) 2024/367 establishes European positive lists for drinking-water contact materials, with material entries and use restrictions.
Lead-free brass suitability depends on the material entry, use restrictions and product application. An alloy name or a single lead percentage is insufficient.
EU 2024/36704Yellow-brass scrap quotations and grades
The price board includes a US yellow-brass scrap reference quoted in US dollars per pound.
Grade, recoverable metal, inspection and delivery terms are the main specification factors in a scrap-price comparison.
02 / Copper markets
Copper futures
LME, SHFE and COMEX copper references, with currencies, units and quotation dates.
14,078
USD / metric tonne
Quotations retain their original currencies and units. Reference types and dates are shown separately.
108,740
CNY / metric tonne
Quotations retain their original currencies and units. Reference types and dates are shown separately.
6.404
USD / pound
Quotations retain their original currencies and units. Reference types and dates are shown separately.
03 / Price board
Copper, brass and scrap prices
Price references by product and region, in their original currencies and units.
Scroll sideways for prices, units and dates.
| Product / reference | Region | Price | Unit | As of / period |
|---|---|---|---|---|
| LME 3-month copper | LME | 14,078 | USD / t | 2026-10-22 |
| COMEX copper reference | United States | 6.404 | USD / lb | 2026-10-22 |
| SHFE most-active copper | China | 108,740 | CNY / t | 2026-10-23 |
| Shanghai No. 1 cathode | China | 108,845 | CNY / t | 2026-10-23 |
| Ningbo HPb59-1 rod | China | 75,300 | CNY / t | 2026-10-19–23 |
| H62 rod · Shanghai / Guangzhou | China | 85,200–85,800 | CNY / t | 2026-10-19–23 |
| H62 strip · weekly average | China | 78,550 | CNY / t | 2026-10-19–23 |
| US yellow-brass scrap | United States | ≈ 3.54 | USD / lb | 2026-10-19–23 |
| Germany MS58 · first processing stage | Europe | 1,103–1,123 | EUR / 100 kg | 2026-10-23 |
No quotations match these filters.
9 referencesW43
Futures, physical products and scrap differ in specification, tax basis and delivery terms. Figures retain their original currencies and units; no conversion is applied.
04 / Policy context
European drinking-water material requirements
European positive lists, application dates and ECHA procedures, with official references.
2024
European positive lists
Decision (EU) 2024/367 establishes European positive lists for materials and constituents in contact with drinking water. Entries, restrictions and transitional provisions depend on the material and product.
EUR-Lex · Decision (EU) 2024/3672026-12-31
Application of Decision (EU) 2024/367
Decision (EU) 2024/367 applies from 31 December 2026. Material entries, intended use and conformity requirements determine the applicability of a brass alloy.
EUR-Lex · Decision (EU) 2024/3672027-01-01
ECHA formal applications
The European Commission implementation FAQ identifies 1 January 2027 as the start date for formal applications to ECHA for changes to the European positive lists. Application requirements follow the official procedure.
European Commission · implementation FAQ05 / Regional lens
Regional markets and procurement
Copper exports and recycled-copper procurement
Quotation terms for copper exports and recycled-copper procurement include product specifications, tax basis, inspection and delivery location.
- Contract and quotation date
- Product grade and inspection standard
- Delivery location and included costs
Lead-free brass procurement and drinking-water applications
General industrial and drinking-water contact applications have different material and product requirements. Procurement documentation follows the intended use.
- Intended product use
- Positive-list entry and restrictions
- Test documents and conformity evidence
US copper and yellow-brass scrap references
The US copper and yellow-brass scrap references in this issue use USD/lb. Contract, location and trade measures are separate comparison factors.
- Pounds and metric tonnes
- Futures and physical quotations
- Product scope and trade measures
The reading edition
Weekly Brief / 19–23 October 2026
In focus
Copper futures: LME, SHFE and COMEX
LME three-month copper, the SHFE most-active contract and the COMEX copper reference, with quotation dates, currencies and units. Currency, tax basis, delivery location and trading hours differ across these references. Unadjusted quotations do not represent a comparable cross-market spread.
LME stocks and brass operating rates
LME stocks of 273,750 tonnes, 62% in the US; Chinese brass rod and billet operating rates of 50.43% and 47.46%. Exchange inventory and available physical supply are different measures. Warehouse location, warrant status and statistical coverage affect the interpretation.
EU requirements for drinking-water materials
Decision (EU) 2024/367 establishes European positive lists for drinking-water contact materials, with material entries and use restrictions. Lead-free brass suitability depends on the material entry, use restrictions and product application. An alloy name or a single lead percentage is insufficient.
EU 2024/367Yellow-brass scrap quotations and grades
The price board includes a US yellow-brass scrap reference quoted in US dollars per pound. Grade, recoverable metal, inspection and delivery terms are the main specification factors in a scrap-price comparison.
Market snapshots
- LME / 3-month copper: 14,078 USD/t · 2026-10-22
- SHFE / Most-active copper: 108,740 CNY/t · 2026-10-23
- COMEX / Copper reference: 6.404 USD/lb · 2026-10-22
LME inventory: 273,750 t. United States: 62%; other locations: 38%.
- Brass rod: 50.43%
- Brass billet: 47.46%
W43. Quotations retain their original currencies, units and dates.
Price references
- LME 3-month copper · LME · 14,078 USD / t · 2026-10-22
- COMEX copper reference · United States · 6.404 USD / lb · 2026-10-22
- SHFE most-active copper · China · 108,740 CNY / t · 2026-10-23
- Shanghai No. 1 cathode · China · 108,845 CNY / t · 2026-10-23
- Ningbo HPb59-1 rod · China · 75,300 CNY / t · 2026-10-19–23
- H62 rod · Shanghai / Guangzhou · China · 85,200–85,800 CNY / t · 2026-10-19–23
- H62 strip · weekly average · China · 78,550 CNY / t · 2026-10-19–23
- US yellow-brass scrap · United States · ≈ 3.54 USD / lb · 2026-10-19–23
- Germany MS58 · first processing stage · Europe · 1,103–1,123 EUR / 100 kg · 2026-10-23
Policy context
2024 / European positive lists
Decision (EU) 2024/367 establishes European positive lists for materials and constituents in contact with drinking water. Entries, restrictions and transitional provisions depend on the material and product.
EUR-Lex · Decision (EU) 2024/3672026-12-31 / Application of Decision (EU) 2024/367
Decision (EU) 2024/367 applies from 31 December 2026. Material entries, intended use and conformity requirements determine the applicability of a brass alloy.
EUR-Lex · Decision (EU) 2024/3672027-01-01 / ECHA formal applications
The European Commission implementation FAQ identifies 1 January 2027 as the start date for formal applications to ECHA for changes to the European positive lists. Application requirements follow the official procedure.
European Commission · implementation FAQRegional perspectives
China / Copper exports and recycled-copper procurement
Quotation terms for copper exports and recycled-copper procurement include product specifications, tax basis, inspection and delivery location.
- Contract and quotation date
- Product grade and inspection standard
- Delivery location and included costs
Europe / Lead-free brass procurement and drinking-water applications
General industrial and drinking-water contact applications have different material and product requirements. Procurement documentation follows the intended use.
- Intended product use
- Positive-list entry and restrictions
- Test documents and conformity evidence
United States / US copper and yellow-brass scrap references
The US copper and yellow-brass scrap references in this issue use USD/lb. Contract, location and trade measures are separate comparison factors.
- Pounds and metric tonnes
- Futures and physical quotations
- Product scope and trade measures
Monitoring priorities
Futures quotations and delivery terms
Quotation records: contract, date, currency, unit and delivery terms.
Material entries and permitted uses
Drinking-water contact: alloy entry, intended use, restrictions and supporting documents.
Recycled-copper specifications and inspection
Scrap quotation records: grade, inspection, recoverable metal and delivery terms.