【SMM Flash News】Astrindo Secures Gas Supply MoU for Mini LNG Project

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the intraday backwardation between the front and next-month contracts has narrowed slightly from the previous period. Some delivery warrants are gradually flowing into the spot market, but the overall release volume remains relatively limited, so the pressure on spot premiums in Shanghai is not yet evident. Although suppliers continue to lower quotes to facilitate transactions, market quotes still find some support after low-priced cargoes are traded, and spot premiums remain high overall. On the demand side, some downstream processing enterprises, driven by the earlier concentrated orders from State Grid, have seen orders and procurement demand released, with intraday consumption showing improvement. However, order performance varies significantly among enterprises, with new orders at some processing enterprises still sluggish, and overall procurement remains primarily need-based. In summary, the current market is characterized by limited supply growth and localized demand divergence, and Shanghai spot premiums are expected to stay high tomorrow.