Copper Prices Pulled Back, Stimulating Downstream Purchasing Enthusiasm; Destocking Accelerated, but Suppliers Sold on Strength, and Spot Premiums Rose First and Then Came Under Pressure [SMM Shanghai Spot Copper]

AI Briefing

• – Copper prices declined, stimulating downstream demand and leading to increased restocking and destocking.
• – Spot premiums rose initially but declined as suppliers became more willing to sell
• – Copper prices may remain volatile, with premiums likely to stay in the discount range.