SHANGHAI, Aug. 9 (SMM) –According to a recent SMM survey, the number of copper wire rod producers using scrap copper as raw materials increased significantly in July, reaching to a yearly high of 11.5%.

Higher refined copper prices during July helped shift part market demand to copper wire rods which use scrap copper as raw materials. Besides, the monthly price gap between refined and scrap copper during July reached RMB 2,000/mt, also prompting producers to choose scrap copper as raw materials for more profits.