SMM Copper Scrap Prices Last Week

Prices of #1 bare bright copper without invoices averaged 63,500 yuan/mt as of Friday February 17, up 840 yuan/mt from a week earlier. The average price spread between copper cathode and copper scrap expanded 298 yuan/mt to 2,232 yuan/mt. The price difference between copper cathode and copper scrap expanded by 459 yuan/mt from week earlier, still profitable for copper scrap users. The slow recovery of consumption has diminished demand for copper scrap, leading to its ample supply.

For copper scrap, cif quotes for #1 copper scrap were Comex July copper prices less $0.09-0.13/lb, and offers for birch/cliff were Comex July copper prices less $0.22-0.24/lb. The coefficient for US brass against LME copper was 67.25-67.5%, with the fixed prices of $5,900-6,000/mt. The coefficient for copper granules (Cu 98.5%) against LME copper was 95.5-96% on a cif basis, and the coefficient for bare bright copper against LME copper stood at 97.75-98.5%, on a cif basis.