High Prices Suppress Demand, Shanghai Spot Copper Discounts Under Pressure and Widening [SMM Shanghai Spot Copper]
[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SHFE copper prices retreated after rapid rise during the day, but absolute prices remained at high levels, continuing to suppress spot premiums. Suppliers further lowered their offers during the second trading session, and Shanghai spot copper premiums continued to widen. Downstream buyers only maintained just-in-time procurement, with insufficient willingness to chase higher prices. Some suppliers had invoice supplementation needs and made purchases in the market, providing some support for spot discounts. Overall, Shanghai spot copper prices against the 2606 contract are expected to remain at a discount tomorrow.