Spot premiums in Shandong changed little last week, and remained firm at around 150 yuan/mt. According to smelters, the current supply and demand are weak. The concentrated maintenance of smelters kept the supply of goods in Shandong tight, and this caused sellers to raise prices. However, the actual market demand was not strong.
In the face of high spot premiums, the enthusiasm of downstream buyers for procurement was not high and they bought goods as required. It is expected that the tight supply of goods in Shandong will unlikely alleviate in the short term, and the spot premiums in Shandong are unlikely to fall this week.
