Spot premiums in Shandong rose all the way this week.
As of Thursday this week, spot copper prices in Shandong were reported at a discount of 90 yuan/mt. Specifically, the market was in a situation of both weak supply and demand. Maintenance at provincial smelters led to tight supply in the Shandong market, giving suppliers confidence to hold prices firm. However, actual market demand was not strong. In the demand off-season, downstream purchasing enthusiasm was low, and transactions during the week were mostly based on rigid demand.