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In Shandong, spot premiums/discounts remained at low levels this week, with relatively small overall changes. As of this Thursday, the average spot discount in Shandong was reported at 240 yuan/mt. Specifically, downstream resumption of work this year was later than usual, and the upward shift in copper price center suppressed demand, leading to more cautious procurement by enterprises. This week, the overall increase in orders from downstream processing enterprises remained limited. Looking ahead, end-use demand is expected to continue recovering, but high copper prices will still suppress consumption, and the rebound in spot premiums/discounts is expected to be limited.
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