Copper Prices Fluctuate at Highs, Shanghai Spot Copper Premiums Pull Back Under Pressure [SMM Shanghai Spot Copper]
[SMM Shanghai Spot Copper] Looking ahead to tomorrow, early session premium quotes were high, but market transactions failed to follow through. Suppliers proactively lowered their quotes in the second session, with the premium center shifting notably lower compared to the early session. This reflected that under current copper prices fluctuating at highs, downstream acceptance of high copper prices and spot premiums remained limited, with purchases driven mainly by rigid demand. Overall, amid the tug-of-war between suppliers' increasing willingness to sell and high prices suppressing demand, Shanghai spot copper prices against the 2605 contract are expected to maintain a premium tomorrow.