SMM Weekly Review on Scrap Copper Consumption (Aug. 1-5)

SHANGHAI, Aug. 9 (SMM) –Last week, the price gap between scrap and refined copper remained between RMB 1,600-1,900/mt, and largely due to tight market supply and trader’s strong unwillingness in sales. Coupled with weak movements in copper prices and a slower declining pace in scrap copper prices, the price gap between the two narrowed over the previous week. Scrap copper prices were held firm, as continuously unfavorable price ratio resulted in tight scrap copper inventories. However, brass prices were on a downside track, as cash flow problems at medium and small-size enterprises kept purchasing interest low, resulting in weak brass price movements, and also a contrast with firm scrap copper prices.