SMM: This week's Shandong copper market premium and discount rates rebounded from low levels, and the market gradually entered holiday mode before the festival.

2026-02-20 23:47:48

This week, the copper spot premium and discount in Shandong rebounded from lows. As of Thursday, the average spot premium and discount was a discount of 290 yuan/ton. The decline in copper prices during the week boosted downstream purchasing sentiment, with increased procurement volume leading to some consumption of spot supplies. Meanwhile, during the previous period of weak market transactions, smelters continued to carry out spot deliveries, further intensifying the tight supply of spot resources and driving the recovery of spot premiums and discounts. As the Spring Festival holiday approaches, regional copper processing enterprises plan to gradually suspend production and take holidays starting next week. Market transactions are expected to enter a lull, with smelters mainly focusing on delivery business, gradually transitioning into holiday operation mode. (SMM)

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