SHANGHAI, Jul. 25 (SMM) – The latest SMM survey of Chinese copper plate, sheet, strip, and foil producers confirmed that the utilization ratio of scrap copper steadied at 18.8% in June.
In SMM's view, the price gap between scrap and refined copper seldom moved above RMB 1,000/mt during June but mostly between RMB 500-800/mt. The average discount on scrap copper was around RMB 719/mt against refined copper during June. In this context, the utilization ratio of scrap copper failed to increase appreciably in June.