SMM Weekly Review on Scrap Copper Imports (Sept. 5-9)

SHANGHAI, Sept. 13 (SMM) –Scrap copper imports remained profitable for a fewer consecutive weeks, and profits were between RMB 1,000-2,500/mt over the past week. The changes of the SHFE/LME copper price ratio also provided hedging opportunities for scrap copper imports. Last week, overseas scrap markets kept stable, and discounts for # 1 scrap copper remained cents 24/pound, and cents 36/pound for # 2 scrap copper, creating some room for importing compared with domestic # 2 scrap copper discounts, which was equal to 0.93 of refined copper.