Shanghai copper morning review on May 2

Copper prices rose sharply on Tuesday as demand for industrial goods reignited
.
Investors in most parts of Asia returned to the market
after a three-day weekend holiday.
Copper prices rebounded, mainly due to the threat of a strike at the Garsberg copper mine at Freeport Indonesia's workstation during May Day
, from May 1 to the end of this month.
Copper market supply concerns have been rekindled, copper prices have been boosted, and the short-term
trend may remain strong.

In terms of the market, as of 2017-4-28, the spot price of Shanghai Metal 1# copper was 46225 yuan / ton, up 405 yuan / ton from the previous week, and the discount was 85 yuan / ton compared with the near-month contract, the early import of copper and the end of the month holders increased their cash exchange efforts, the market was rich in supply, the market once again showed oversupply, the beginning of the week posted underwater expansion, traders led the downstream price to receive goods actively, but after the week, the outflow of the cargo source of the holder gradually decreased, the discount was raised, and the transaction within the week maintained a high
。

In the short-term consumption season, the opening of the import window, the customs declaration of electrolytic copper in the bonded area suppresses the continuous decline of domestic premium, and it is still on the road
to destocking.
Cable and air conditioning raw material inventories are low, copper prices fell after the industry has buying demand, while at the same time copper prices in the first half of the year remained volatile, domestic scrap copper supply is limited, so short-term copper prices fell to the bottom
.