Shanghai copper afternoon review on May 23

In terms of the market, Shanghai copper stood above 51500 yuan / ton, holders enthusiastically shipped, morning market quotation discount 80 ~ 30 yuan / ton, due to the lack of strong buying, holders took the initiative to lower the quotation, good copper was the first to be reduced to a discount of 50 yuan / ton to buy, flat water copper accelerated down to a discount of 100 yuan / ton, due to the supply of flat water copper, especially imported copper sources increased significantly, the favor of the transaction is not as good copper, the downward adjustment is also greater, the second trading session, flat water copper maximum has been expanded to discount 120 yuan / ton, dragged down by the low-priced imported flat water copper PASAR, GRESIK and other quotations of 140 yuan / ton, wet copper self-discount 140 yuan / ton to 170 yuan / ton
.
The market supply is increasing day by day, which has an impact on spot quotations, and the discount is further expanded before the end of the month, and the market gradually shows the characteristics of
oversupply.

Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders of high prices and high premium shipments, because the price difference of refined waste continues to narrow, most of the downstream turn to the purchase of high-quality electrolytic copper, conducive to the further increase in consumption demand for electrocopper, because the current premium is too high, downstream shutdown and production reduction phenomenon increases, holders continue to sell, the transaction atmosphere continues to weaken
.