SMM Spot Copper: Premiums Decline Amid Continuous Destocking and Sluggish Demand

Published: Jan 20, 2025 13:52

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[SMM Spot Copper] During the day, mainstream standard-quality copper was quoted at a premium of 40 yuan/mt to 60 yuan/mt against the front-month contract, while high-quality copper was quoted at a premium of 60 yuan/mt to 90 yuan/mt. According to SMM, there was continuous destocking in the Shanghai region over the weekend, with limited arrivals of domestic supply. On the import side, apart from regular port arrivals, only some LME canceled warrants were shipped to east China. In terms of demand, pre-holiday downstream consumption remained sluggish, with moderate restocking sentiment. Spot premiums are expected to decline further tomorrow.

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