SMM Weekly Review on Scrap Copper Imports (Jun. 11-15)-Shanghai Metals Market

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SMM Weekly Review on Scrap Copper Imports (Jun. 11-15)

SMM Insight 05:25:26PM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) –As the SHFE/LME copper price ratio rose above 7.30 last week, the import window for scrap copper opened anew. CIF quotations for #1 scrap copper were US 17¢/lb below Comex copper for July delivery last week, and minus US 27-28¢/lb for #2 scrap copper. As copper prices appeared likely to slide further, most importers opted to replenish goods only as needed over the past week.
 

SMM Weekly Review on Scrap Copper Imports (Jun. 11-15)

SMM Insight 05:25:26PM Jun 19, 2012 Source:SMM

SHANGHAI, Jun. 19 (SMM) –As the SHFE/LME copper price ratio rose above 7.30 last week, the import window for scrap copper opened anew. CIF quotations for #1 scrap copper were US 17¢/lb below Comex copper for July delivery last week, and minus US 27-28¢/lb for #2 scrap copper. As copper prices appeared likely to slide further, most importers opted to replenish goods only as needed over the past week.