SMM

[SMM Spot Copper] During the day, mainstream standard-quality copper was quoted at a discount of 130-120 yuan/mt against the front-month contract, while high-quality copper was quoted at a discount of 120-80 yuan/mt. Limited import arrivals during the week and a significant slowdown in social inventory buildup have been observed. The market is expected to see a recovery in downstream consumption in March, stabilizing spot premiums. Spot premiums are more likely to rise than fall tomorrow.