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July Proportion of Producers Using Scrap Copper Up Slightly
Aug 23,2011 16:37CST
smm insight
Source:SMM
Based on SMM survey of major domestic copper plate, sheet, strip and foil producers, the proportion of producers using scrap copper as raw materials increased again in July, up slightly from June.

SHANGHAI, Aug. 23 (SMM) –Based on a recent SMM survey of major domestic copper plate, sheet, strip and foil producers, the proportion of producers using scrap copper as raw materials increased again in July, up slightly from June.

The price gap between refined and scrap copper expanded further in July, averaging at around RMB 2,000/mt with # 1 scrap copper (including tax), which greatly increased producer’s interest in using scrap copper as raw materials. Besides, higher copper prices and weak market consumption intensified competitiveness for copper plate, sheet, strip and foil producers, who were propelled to use scrap copper to improve their price competition. 

The price advantages of scrap copper will reduce as copper prices fall back significantly during August, so SMM believes the number of producers using scrap copper as raw materials will not increase in August.

 

producer using scrap copper

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