There was wild volatility in spot quotes last week. Spot quotes rose after the delivery of April contract on Monday, and fell from Tuesday to Thursday amid large volumes of cargoes being offered for sale.
As of last Friday, spot discounts stood at 150 yuan/mt, 30 yuan/mt lower than a week earlier.
Smelters in north China continued to sell large volumes of cargoes to Shandong.
In the meantime, downstream processing companies rejected the high prices offered by local smelters. The smelters thus lowered spot quotes.
The overall consumer demand has not recovered significantly. This week, Shandong's spot quotes are likely to rebound.

![Preços elevados do cobre suprimem as compras a jusante; taxa de operação e novos pedidos continuam em declínio [Análise Semanal do Mercado de Fios Esmaltados SMM]](https://imgqn.smm.cn/usercenter/mPNrH20251217171709.jpg)

