Downstream Consumption Weakened During the Day, Spot Premiums Edged Down Slightly [SMM Shanghai Spot Copper]
- feb 25, 2025, at 5:45 am
[SMM Spot Copper] During the day, mainstream standard-quality copper was quoted at a discount of 140-130 yuan/mt against the front-month contract, while high-quality copper was quoted at a discount of 120-100 yuan/mt. Market buying was sluggish during the day, but it was observed that the SHFE copper 2405 contract had shifted to a backwardation structure. Suppliers were waiting for an inventory turning point and were not in a hurry to sell. Spot premiums are expected to stabilize tomorrow.
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