Suppliers fear copper prices will fall, actively shipping goods before the holiday [SMM Secondary Copper Daily Review]

》Check SMM copper quotes, data, and market analysis

》Subscribe to view historical price trends of SMM metal spot cargo

SMM May 28

      At 11:30 today, the futures closing price was 78,240 yuan/mt, unchanged from the previous trading day. The average spot premiums/discounts were 150 yuan/mt, also unchanged from the previous trading day. Today, the price of secondary copper raw materials remained unchanged MoM. The price of bare bright copper in Guangdong was 72,700-72,900 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 943 yuan/mt, unchanged MoM. The price difference between copper cathode rod and secondary copper rod was 1,130 yuan/mt. According to the SMM survey, copper prices have remained almost unchanged for three consecutive trading days. Many suppliers of secondary copper raw materials are concerned about a potential decline in copper prices before and after the holiday. Therefore, to recoup funds, they are actively selling their inventory today. Secondary copper rod enterprises reported a significant improvement in raw material procurement today compared to the previous two days.