SMM Weekly Review on Scrap Copper Imports (Sept. 19-23)

SHANGHAI, Sept. 27 (SMM) –Last week, elevated European debt issues triggered turmoil in the financial market over the past week, causing continuous slumps in LME copper prices. Scrap copper prices on the SHFE copper market dropped relatively slower, but without transactions at the lows. Last week, discounts for # 1 scrap copper were cents 13/pound, while discounts for # 2 scrap copper were cents 25/pound. Overseas suppliers’ unwillingness in moving goods was growing, and market transactions were muted.