Shandong Copper Premiums Hold Steady Amid Supply Recovery

Copper premiums in Shandong remained stable at an average of 90 yuan/mt as of Thursday. Copper prices were high, but downstream demand was sluggish, and market transactions were dominated by long-term contracts with limited scattered spot trades.

Maintenance at smelters in the province is concluding, which will lead to a recovery in regional spot supply next week. However, the end-use market remains in the off-season, leaving some downside room for Shandong spot prices.