According to SMM data, Shanghai saw a destocking of 8,000 mt of copper cathode this week, indicating strong sentiment for cargo pick-up downstream. Meanwhile, tight supply of copper scrap was noted, with increased demand for non-registered and non-standard sources. Non-registered sources traded at small discounts intraday, while Russian sources traded at discounts of 70 to 50 yuan/mt. Looking ahead, under the influence of the Shanghai-Guangdong price spread, Shanghai spot copper premiums are expected to remain firm above 50 yuan/mt tomorrow.