Spot Premiums for Copper In Shandong Fluctuated Greatly and to Remain High

The spot premiums in Shandong fluctuated greatly last week. At the beginning of the week, the premiums rose due to tight supply, and fell back to 120 yuan/mt on Wednesday, mainly due to the decrease in downstream demand at the end of the month and more spot resources.

At the end of the week, due to the stock replenishment by some downstream enterprises, the supply of goods from smelters tightened. Therefore, the premiums in Shandong rose slightly to 150 yuan/mt. The current demand is not strong, but due to the tight supply of goods in north China and maintenance at smelters, processing companies were more worried about spot resources.

Therefore, the enthusiasm for purchasing was acceptable. This week, if the tight supply of goods does not ease, spot premiums in Shandong are expected to remain high.

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