This week, spot premiums/discounts in Shandong region have been on a downward trend. As of Thursday, the average spot premiums/discounts in Shandong region were reported at a discount of 330 yuan/mt. Against the backdrop of the high BACK price spread between futures contracts for copper this week, most downstream enterprises maintained a strong wait-and-see sentiment. As the contract rollover approached, suppliers had no choice but to continuously lower premiums and discounts. Spot transactions were mainly driven by rigid demand at low prices, and overall market trading activity was poor.