Data: SHFE, DCE market movement (Mar 17)

One and One Green Technologies is expanding into the e-waste recycling market in Metro Manila. The company processes electronic scrap and industrial waste into copper alloy ingots and other products. Analysts see Southeast Asia emerging as a key growth region for recycled copper supply.

Nexans is developing a large copper recycling center capable of processing up to 80,000 tonnes of scrap annually. The project aims to reduce reliance on primary copper and improve supply resilience. The company highlighted recycled copper as a strategic resource amid tightening global supply.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,724.5/mt. In early trading, it fluctuated upward to a high of $12,829.5/mt, after which the center of copper prices shifted straight downward to a low of $12,721/mt. It then fluctuated upward in a pullback and finally closed at $12,780/mt, down 1.07%. Trading volume reached 17,000 lots, and open interest stood at 293,000 lots, down 8,255 lots from the previous trading day, mainly due to longs reducing positions. Overnight, the most-traded SHFE copper 2604 contract opened at 99,120 yuan/mt. In early trading, it rose to 99,530 yuan/mt, then fluctuated downward all the way to a low of 98,900 yuan/mt. Afterwards, the center of copper prices moved upward and finally closed at 99,140 yuan/mt, down 0.92%. Trading volume reached 27,700 lots, and open interest stood at 177,000 lots, down 1,993 lots from the previous trading day, mainly due to longs reducing positions.