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Holiday atmosphere is strong; Shandong copper market transactions are dull, and the discount is under pressure
The copper spot market in Shandong has entered the Chinese New Year holiday period. Downstream companies within the province have completed pre-holiday stockpiling based on orders and holiday arrangements. Coupled with tightening logistics capacity, overall market transactions are subdued. As of Thursday, the average premium/discount for spot copper is reported at a discount of 270 yuan/ton. (SMM)