Utilization Ratio of Scrap Copper Up Slightly in September

SHANGHAI, Oct. 9 (SMM) – According to the latest SMM survey of domestic copper wire rod producers, the utilization ratio of scrap copper increased by 0.77% in September from the previous month, up to 2.24%. Copper prices moved higher all the way during September and turned a part of market demand to scrap copper, a raw material for copper rod. The average price differential between refined and scrap copper widened to RMB 1,750/mt in September, also a factor prompting copper wire rod producers to step up purchases of scrap copper.