Holiday Margin Adjustments

The SHFE has issued notices to adjust trading margin standards and price limit ranges ahead of the May 1–5 holiday. This has triggered a wave of liquidations from traders unwilling to hold large positions during the extended market closure.

New Energy Work Plan

China's National Energy Administration has announced the formulation of a 2026 New Energy Consumption Work Plan. While bullish for copper long-term, the news has had little immediate impact on a market focused on short-term liquidity.