Spot premiums for Shanghai spot copper continued to decline after contract rollover and will remain under pressure next week [SMM Weekly Review of Shanghai Spot Copper]

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        During the week, the SHFE copper 2506 contract underwent contract rollover and delivery. After spot copper entered the quoting phase against the SHFE copper 2507 contract, spot premiums continued to decline. A large amount of Russian copper entered the domestic trade market for sale during the week, and suppliers' low-price sales led to expectations of further declines in spot premiums. Moreover, the continuous outflow of warrants prompted suppliers to actively "rush" to sell, accelerating the decline in Shanghai spot copper prices. Moving into next week, as the semi-annual settlement approaches, most enterprises have a need for cash collection, which will further pressure spot premiums of SHFE copper.

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