Available Spot Copper Remained Tight, Shanghai Spot Copper Premiums Continued to Rise [SMM Shanghai Spot Copper]
[SMM Shanghai Spot Copper] Looking ahead to tomorrow, some downstream enterprises prefer to purchase directly from smelters to ensure invoice issuance for the current month, diverting some demand from the spot trading market. Demand side, with the Labour Day holiday approaching, some downstream enterprises have pre-holiday stockpiling needs, but according to SMM, actual demand growth is limited. At current copper prices and premium levels, some downstream enterprises show low acceptance and are reluctant to chase higher prices. Supplier side, with month-end settlement approaching, some suppliers are less enthusiastic about shipments, and available low-priced cargo is limited, providing support for spot premiums. Overall, amid the interplay between tight invoices and high prices suppressing demand, Shanghai spot copper prices against the SHFE copper 2605 contract are expected to maintain a premium tomorrow.