This week, spot premiums/discounts in Shandong have been on a downward trend. As of Thursday, the average spot premiums/discounts in Shandong were reported at a discount of 205 yuan/mt. Specifically, after the Dragon Boat Festival, copper prices remained high, and downstream demand performed poorly. Enterprises entered the market when prices were low, focusing on long-term contracts and just-in-time procurement. There was a strong sentiment to drive down prices during the week, and suppliers faced increased pressure to sell. To facilitate transactions, they reluctantly continued to lower premiums and discounts. Looking ahead to next week, with imported supplies flowing into the market, spot supply is expected to be ample. However, as downstream consumption gradually enters the off-season, demand will be constrained, and the room for spot premiums/discounts to rebound is expected to be limited.
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