SMM Analysis: Slight Increase in Operating Rate of Secondary Copper Rod Plants, Price Spread Widens

[SMM Analysis: Initial Economic Benefits of Secondary Copper Rods, Operating Rate Slightly Increased]

According to SMM survey data, the operating rate of secondary copper rod plants this week was 31.55% (surveyed enterprises: 18, capacity: 1.94 million mt/year), up 2.52 percentage points WoW but down 12.51 percentage points YoY. This week, the average price spread between refined and secondary copper rods was 1,019 yuan/mt, up 259 yuan/mt from last week's average of 760 yuan/mt. The average discount of secondary copper rod prices in Jiangxi against copper futures this week was 440 yuan/mt, down 196 yuan/mt WoW...