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In North China, as of Thursday this week, spot premiums/discounts ranged from a discount of 140 yuan/mt to parity, with an average discount of 70 yuan/mt. After contract rollover, spot premiums/discounts rebounded. However, the North China market was in the off-season for consumption, and long-term contract deliveries dominated during the week. With mediocre demand performance, as the month-end period approached, some suppliers had a need to clear inventory. Additionally, due to a relatively pessimistic outlook for future spot premiums/discounts, they chose to sell at low prices, leading to a rapid decline in spot premiums/discounts. Looking ahead, there are still suppliers who need to clear inventory by month-end. However, before the Dragon Boat Festival holiday, downstream players have stockpiling needs. It is expected that both supply and demand will increase, but there is relatively small room for spot premiums/discounts to rise.
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