SMM Weekly Review on Scrap Copper Imports (Jun. 25-29) -Shanghai Metals Market

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SMM Weekly Review on Scrap Copper Imports (Jun. 25-29)

Price Review & Forecast 09:47:21AM Jul 04, 2012 Source:SMM

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.
 

Price

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1# Zinc
Aug.21
18650.0
-150.0
(-0.80%)
0# Zinc
Aug.21
18720.0
-150.0
(-0.79%)
T/C for domestic zinc concentrate
Aug.01
6325.0
0.0
(0.00%)
T/C for imported zinc concentrate
Aug.01
240.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
Aug.21
19620.0
-150.0
(-0.76%)

SMM Weekly Review on Scrap Copper Imports (Jun. 25-29)

Price Review & Forecast 09:47:21AM Jul 04, 2012 Source:SMM

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.