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SMM Weekly Review on Scrap Copper Imports (Jun. 25-29)
Jul 4,2012 09:47CST
price review forecastsmm insight
Source:SMM
The SHFE/LME copper price ratio hovering above 7.30 last week left scrap copper importers with meager margins.

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.
 

China scrap copper importers

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