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SMM Weekly Review on Scrap Copper Imports (Oct. 17-21)
Oct 27,2011 09:51CST
smm insight
Source:SMM
The profit on importing scrap copper held between RMB 300-1,000/mt. However, small and medium traders stuck to the sidelines as market sentiment grew more pessimistic.

SHANGHAI, Oct. 27 (SMM) –Scrap copper prices have remained more resilient than refined copper prices. Mainstream offers for bare bright copper were between RMB 48,500-51,700/mt, and bare bright copper prices (including tax) were RMB 300-1,000/mt higher than refined copper prices last week. The discount on #1 scrap copper was USD 0.13/lb last week, while that on #2 scrap copper was USD 0.24/lb. The profit on importing scrap copper held between RMB 300-1,000/mt. However, small and medium traders stuck to the sidelines as market sentiment grew more pessimistic. Large traders, on the other hand, increased scrap copper imports. Altogether, scrap copper supply will remain tight for the foreseeable future.
 

scrap copper imports

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