Rising Copper Prices Dampen Downstream Demand Spot Market Transactions Sluggish [SMM Shandong Copper Cathode Spot Weekly Review]

Mar 20, 2025, at 6:38 am

Shandong region's premiums and discounts continued to decline this week, with the average spot premiums and discounts in Shandong reaching a discount of 200 yuan/mt by Thursday. The activity in the spot market was moderate this week. The center of copper prices kept rising, suppressing downstream demand, which mainly focused on just-in-time procurement. As some suppliers remained optimistic about future premiums and were unwilling to significantly lower prices, the decline in spot premiums was limited. Looking ahead, given that social inventory continues to show a destocking trend and domestic arrivals are limited, suppliers still have the sentiment to stand firm on quotes. However, considering the high copper prices, downstream consumption will be restrained, leading to a tug-of-war in spot premiums. 》View SMM metal prices, data, and market analysis 》Order to view historical spot price trends of SMM metals 》View SMM industry chain database

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