High copper prices and weak demand, spot cargo transactions remain weak [SMM Weekly Review of Copper Cathode Spot in Shandong]

Published: Jul 4, 2025 11:41

Save

This week, spot premiums/discounts in Shandong province rebounded from a low level. As of Thursday, the average spot premiums/discounts in Shandong province were reported at a discount of 120 yuan/mt. Specifically, copper prices rose this week, and the market was filled with fear of high prices. Under the dual impact of weak demand and high copper prices, the enthusiasm for downstream procurement was severely dampened. However, the current spot inventory of smelters in Shandong province is not large. With the conclusion of mid-year settlements, smelters have no intention of significantly reducing prices to sell goods. Overall, Shandong province was in a situation of weak supply and demand this week, with spot premiums/discounts showing a tug-of-war and transactions remaining weak. It is expected that spot prices in Shandong province may drop back slightly next week.

》Check SMM metal quotes, data, and market analysis

》Subscribe to view historical price trends of SMM metal spot prices

》Check SMM metal industry chain database

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

16 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

16 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

16 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

16 hours ago