In Shandong this week, premiums and discounts rose and then pulled back. As of Thursday, the average spot premiums/discounts in Shandong were reported at a premium of 5 yuan/mt. The market this week showed weak supply and demand. Spot cargo in the Shandong market was tight, giving suppliers confidence to stand firm on quotes. However, actual market demand was not strong, especially after the center of copper prices rose, downstream orders were average, and companies' procurement enthusiasm was low, maintaining only just-in-time procurement. Looking ahead to next week, as the Labour Day holiday approaches, downstream sectors have pre-holiday stockpiling needs, but the overall stockpiling volume is expected to be limited. With the expectation of tight spot cargo, spot premiums/discounts in Shandong are expected to rise slightly next week.
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