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SMM Weekly Review on Scrap Copper Imports (Oct.8-12)
Oct 16,2012 15:05CST
smm insight
Source:SMM
As the SHFE/LME copper price ratio moved slightly higher to around 7.23, losses on imported scrap copper eased to RMB 2,200-2,600/mt.

SHANGHAI, Oct. 16 (SMM) –Since copper futures prices kept lurching narrowly, post-holiday scrap copper discounts remained unchanged. CIF quotations for bare bright copper were US 10¢/lb below Comex copper for December delivery, US 24¢/lb below #1 scrap copper, and US 34¢/lb below #2 scrap copper. Downstream orders were not seen to improve noticeably post-holiday, but as the SHFE/LME copper price ratio moved slightly higher to around 7.23, losses on imported scrap copper eased to RMB 2,200-2,600/mt.
 

scrap copper imports
scrap copper losses

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