Copper Prices Reach New Highs, Shandong Spot Quotes Discount RMB 130/mt Amid Low Demand

Published: Sep 10, 2026 15:20

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As of Thursday, average spot quotes in Shandong settled at a discount of RMB 130/mt. Copper prices kept climbing to fresh highs this week, compounded by a persistently wide backwardation structure in monthly spreads, leaving downstream consumers firmly on the sidelines. Despite active offer cuts by holders to spur demand, downstream buying interest remained subdued, keeping spot market activity in a stalemate throughout the week.

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