Trading in the spot market was sluggish, with premiums and discounts showing a continuous downward trend [SMM Weekly Review of Copper Cathode Spot in Shandong]

       This week, spot premiums/discounts in Shandong have been on a downward trend. As of Thursday, the average spot premiums/discounts in Shandong were reported at a discount of 90 yuan/mt. Specifically, after contract rollover, the trading activity in the spot market did not see a significant rebound, and downstream demand showed mediocre performance. According to downstream processing enterprises, recent order performance has been average, with a greater preference for executing long-term contracts and limited procurement volumes for spot orders. Suppliers have faced poor sales and have proactively lowered premiums and discounts. Overall, the Shandong market has been inactive in trading this week, with transactions mainly occurring at low prices and cargo pick-ups for long-term contracts. Looking ahead to next week, it is expected that there will be no significant increase in end-use consumption. Downstream enterprises will likely maintain just-in-time procurement based on order volumes, and it is anticipated that there will still be downside room for spot premiums/discounts.

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