Home / Metal News / Zinc / SMM Weekly Review on Scrap Copper Consumption (July 18th-July 22nd)
SMM Weekly Review on Scrap Copper Consumption (July 18th-July 22nd)
Jul 27,2011 15:26CST
smm insight
Source:SMM
Last week, despite increases in SHFE copper prices, the price gap between scrap and refined copper narrowed, returning to RMB 1,900-2,200/mt.

SHAGNHAI, Jul. 27 (SMM) –Last week, despite increases in SHFE copper prices, the price gap between scrap and refined copper narrowed, returning to RMB 1,900-2,200/mt, and mainly due to the following reasons. Custom clearance costs for scrap copper in Guangdong rose sharply since the start of July, and an unfavorable price ratio also increased difficulties for scrap copper imports. Given tight market supply, cargo-holder’s unwillingness of moving goods grew. In the early week, LME copper prices advanced to above USD 9,800/mt, and domestic scrap copper prices actively followed the rising trends. However, scrap copper offers were still held firm after copper prices fell from initially increasing during the week. Although the price gap between scrap and refined copper reduced RMB 200-300/mt from a week earlier, scrap copper prices were still cheaper than that of refined copper. As a result, copper smelters and downstream processors were still interested in purchases, which also an important factor supporting scrap copper prices.

 

weekly review on scrap copper consumption

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn