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[Cu] Summary - 2009/11/18 Scrap Copper Market
Dec 7, 2009 13:16Source:SMM
SHANGHAI, Nov. 18 (SMM) -- North China, today #1 scrap copper was traded at RMB 49,000-49,200/mt, market supply tightened due to the heavy snow storm, helping raise scrap copper prices, while downstream purchasing sentiment was relatively high, resulting in brisk trading sentiment.
East China, today #1 scrap copper was traded at RMB 48,400-48,700/mt, buyers were cautious, but cargo-holders were eager to move goods at current price levels, so overall trading sentiment was general.
South China, today #1 scrap copper was traded at RMB 48,700-48,900/mt, local users took a wait-and-see attitude toward high prices, but a portion of producers from north China purchased goods in this region due to supply tightness, resulting in modest market sentiment.
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