Spot Premiums Face Downward Pressure as Supply Increases and Demand Weakens Ahead of Holidays

Published: Feb 10, 2026 13:30

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Looking ahead to tomorrow, spot premiums are expected to face downward pressure. Suppliers demonstrated a willingness to sell during the day, while downstream consumption weakened as some enterprises began holiday preparations and stockpiling demand was largely fulfilled, leading to a slight softening in premiums. On the supply side, previously price-locked import cargoes are arriving at ports, increasing overall market availability. However, it is noteworthy that to capture futures spread gains, most suppliers of deliverable brands are holding material for warehouse delivery, tightening the supply of such spot goods. Concurrently, buyer interest remains subdued, creating a stagnant supply-demand stalemate that is likely to suppress spot trading activity and cap premium performance.

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