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Spot premiums and discounts in Shandong region remained at low levels this week, with relatively small WoW changes. As of Thursday, the average spot discount in Shandong region was reported at 325 yuan/mt. Specifically, end-use consumption remained lackluster, and downstream purchasing enthusiasm was low. Approaching month-end, suppliers, driven by destocking pressure, continued to sell at low prices, but overall market transactions remained sluggish with low trading activity. Next week marks the beginning of March, and changes in copper cathode inventories and actual downstream consumption performance will become key factors influencing spot market transactions. Currently, spot prices in Shandong region are nearing the bottom, and under the expectation of a consumption rebound, premiums and discounts are expected to show a slow recovery trend in the future.
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