Copper Price Fluctuations Influence Spot Cargo Transactions, Demand Remains Difficult to Warm Up Significantly [SMM Shandong Copper Cathode Spot Weekly Review]

The premiums and discounts in Shandong region slightly decreased WoW. As of Thursday this week, the average spot premiums and discounts in Shandong region were reported at a discount of 220 yuan/mt. Spot transactions in Shandong region were moderate this week. Suppliers, with relatively small inventory resistance, made appropriate price adjustments based on the daily change in copper prices, without adopting a strategy of significant price reductions. The center of copper prices notably shifted upward during the week, leading to relatively low purchase willingness among downstream enterprises, which significantly constrained market transactions. Towards the end of the week, copper prices pulled back, prompting downstream enterprises to restock at lower prices, and market activity rebounded. Looking ahead to next week, demand is expected to remain largely unchanged in the short term due to the constraint of high copper prices. Meanwhile, most suppliers are optimistic about the future market, and it is anticipated that the spot premiums and discounts in Shandong region will not continue to decline.

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