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

SHANGHAI, Aug. 9 (SMM) –The unfavorable price ratio for scrap copper imports lasted for nearly one and a half months, which negatively affected importer enthusiasm in importing high-quality scrap copper last week. Markets are now more worried towards the global economic recovery, which will weigh on copper prices. The SHFE/LME copper price ratio is expected to improve recently, which will stimulate importer’s interest in replenishing scrap copper stocks. However, higher importing sentiment will appear about a week later when prices for high-quality scrap copper become more stable.