SHANGHAI, Jul. 4 (SMM) –The SHFE/LME copper price ratio hovering above 7.30 last week left scrap copper importers with meager margins. CIF quotations for #1 scrap copper were US 17¢/lb below Comex copper for August delivery last week, and minus US 27-28¢/lb for #2 scrap copper. According to SMM sources, scrap copper supply in the US and Europe was tight with only a small number of cargo-holders proffering quotes, holding prices firm. Nevertheless, some Chinese importers have begun to step up scrap copper purchasing. SMM thus anticipates a slight improvement in the scrap copper supply situation in mid-July.