SMM Weekly Review on Scrap Copper Consumption (Sept. 12-16)

SHANGHAI, Sept. 20 (SMM) –SHFE copper prices continued to edge down over the past week. However, due to tight supply in the scrap copper market, and since a falling number of overseas suppliers making price offers also increased Chinese importers' difficulties in stockpiling, offers for bare bright copper and other high-quality scrap copper held firm. As a result, the price gap between scrap and refined copper continued to remain less than RMB 800/mt last week, and had no signs of expanding. Therefore, most enterprises began to buy refined copper as raw materials since scrap copper had no price advantages.