Overseas Copper Scrap Supply Remains Tight, with Payability Edging Higher Alongside Copper Prices

Published: Jul 15, 2026 11:39

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Recently, overseas copper scrap payability has not declined despite a slight increase in copper prices. Instead, supported by persistently tight overseas copper scrap supply, offers have moved slightly higher in tandem with copper prices. Currently, overseas Millberry offers remain at a high range of 98.5%-99%, which is already close to the upper level acceptable to traders. Payability for No.1 copper and No.2 copper scrap has also edged up by around 0.2 percentage points from previous levels. The traditional pricing logic of “higher copper prices leading to lower copper scrap payability” is gradually weakening. On the one hand, overseas copper scrap generation remains limited, and spot availability continues to be tight. On the other hand, competitive procurement of recycled copper raw materials from China, India, Southeast Asia and the Middle East is still ongoing. With no significant increase in supply expected in the near term, sellers continue to show strong price support even as copper prices edge higher, keeping overseas copper scrap payability elevated with a slight upward bias.

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