Home / Metal News / Copper / SMM Weekly Review on Scrap Copper Consumption Advantages (Oct. 10-14)
SMM Weekly Review on Scrap Copper Consumption Advantages (Oct. 10-14)
Oct 19,2011 10:17CST
smm insight
Source:SMM
Recently, we have been seeing a near inversion in the price relationship between refined and bare bright copper as the price gap between refined and scrap copper has continually narrowed.

SHANGHAI, Oct. 18 (SMM) –Recently, we have been seeing a near inversion in the price relationship between refined and bare bright copper as the price gap between refined and scrap copper has continually narrowed, and the discount on US #2 copper over refined copper has fallen to around RMB 1,000/mt. While copper prices have slumped, scrap prices have remained resilient, nearly erasing the price differential between the two, largely owing to extreme tightness in scrap copper supply. SMM believes that scrap copper imports may increase slightly as the profitability that emerged in August continues to drive trade, but that supply shortages in the market will remain in place, widening the spread again, but that it will be difficult for the spread to recover to the RMB 1,000-1,500/mt range.
 

scrap copper consumption advantages

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn