SMM Cu Survey: Scrap Copper Inventories Remain Low at Low-Oxygen Copper Rod Producers

SHANGHAI, Nov. 9 (SMM) –SMM's survey confirmed that scrap copper inventories at low-oxygen copper rod producers surveyed remained low. First, fewer medium- and large-sized low-oxygen copper rod producers have purchased scrap copper recently due to the inverted price relationship between scrap and refined copper. Low scrap copper inventories at small low-oxygen copper rod producers directly affected operating rates, especially as many face difficulties in sourcing. Second, many of the producers surveyed reported purchasing only on an as-needed basis to minimize risks, another contributing factor behind low scrap copper inventories.