Spot Copper Prices In Shandong Expected To Remain High

The premiums in Shandong rose slightly last week. Downstream buying interest was strong early last week due to falling copper prices. Spot premiums were around 70 yuan/mt. At the end of the week, the tight supply of goods in Shanghai was not alleviated.

Near the end of the month, smelters mainly delivered long-term orders, and the trades under small orders were quiet. Supply in Shandong was tight, and spot premiums rose to 110 yuan/mt. According to smelters, there was a shortage of supply in various places. Some downstream companies in north China even purchased from Shandong. This week, if the tight supply of goods does not ease, spot premiums in Shandong are expected to remain high.

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