Supply Tight, Cargo Hard to Find; Shanghai Spot Copper Premiums Remain Strong [SMM Shanghai Spot Copper]
[SMM Shanghai spot copper] Tomorrow, the currently available spot copper remains tight, at a year-to-date low, and the inventory destocking trend remains unchanged. Moreover, the backwardation structure has widened. Intraday, suppliers continued to raise their quotes, showing a strong willingness to hold prices firm. Overall, under the combined influence of tight available supply, suppliers holding prices firm, and downstream just-in-time procurement, SHFE copper spot prices against the 2608 contract next Monday are expected to maintain a premium, with the overall premium center continuing to rise.