[SMM Analysis: Copper Prices Pulled Back, Price Difference Between Primary Metal and Scrap Narrowed]
The average price difference between primary metal and scrap (including tax) during the week was 1,688 yuan/mt, narrowing by 39 yuan/mt from last week's 1,727 yuan/mt. Copper prices fluctuated downward during the week, and the narrowing of the price difference was mainly due to low inventory levels of secondary copper raw material suppliers, who stood firm on quotes to sell. However, the tight supply of raw materials did not trigger an increase in raw material stocking demand from secondary copper rod enterprises...
