SMM Weekly Review on Scrap Copper Consumption Advantages (Nov. 28-Dec. 2)

SHANGHAI, Dec. 8 (SMM) –Risk appetites grew last week after China's central bank announced its cut in the RRR of 0.5% and six central banks jointly announced that they are injecting US dollar liquidity into the global financial system, causing copper futures prices to rebound significantly. However, the reluctance of downstream producers to buy restricted increases in scrap copper prices. In other news, weak transactions in the scrap copper market depressed scrap copper prices, contributing to an easing of the inverted price relationship between scrap and refined copper. The price gap between bare bright and refined copper fell to between RMB 100-600/mt over the past week.