Tight Supply Keeps Overseas Copper Scrap Payabilities Elevated

Published: Aug 7, 2026 11:34

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Global copper scrap supply remains tight, with social inventories across China, Japan, South Korea and India generally at low levels. Despite copper prices trading near historical highs, scrap payabilities remain firm, with Millberry at around 98.5%-99%, No.1 copper at 97%-98%, and No.2 copper at 94%-96%. Tight concentrate supply is also supporting demand for recycled copper feedstock. With scrap availability unlikely to improve significantly in the near term, copper scrap payabilities are expected to remain elevated.

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