Spot copper premiums and discounts in Shandong rose by 50 yuan/mt

Published: Feb 3, 2026 14:30

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Today in Shandong, spot copper premiums/discounts rose by 50 yuan/mt, with the average reported at a discount of 320 yuan/mt. Copper prices pulled back sharply yesterday, which boosted downstream procurement sentiment. The increase in procurement volume consumed some spot cargo supply. Against the backdrop of previously weak market transactions, smelters continued with spot deliveries, becoming the core reason for the current tightness in spot supply. Overall, while the current spot tightness was partly driven by improved downstream procurement, the main cause was smelter delivery behavior, which is a short-term market phenomenon triggered by copper price fluctuations.

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