The First Week After the Holiday: Spot Copper Transactions Remain Sluggish [SMM Shandong Copper Cathode Spot Weekly Review]

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      After the holiday, the Shandong market remained sluggish, with few downstream inquiries and stagnant transactions in the spot market. As of this Thursday, the average spot premiums/discounts in Shandong stood at a discount of 225 yuan/mt. Specifically, although processing enterprises in the province gradually resumed operations this week, their demand remained insufficient. Additionally, the rise in copper prices towards the end of the week suppressed consumption, and downstream enterprises still had pre-holiday stockpiling inventory to deplete, resulting in weak buying interest. Looking ahead, processing enterprises are expected to fully resume operations after the Lantern Festival, further boosting demand and bringing spot market activity back to normal. However, suppliers still face inventory pressure, and spot premiums/discounts are expected to remain low next week.

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