SHANGHAI, Dec. 11 (SMM) – SMM's latest survey confirmed that scrap copper inventories remained 3 days in November and began stabilizing gradually following continuous drops. Domestic scrap copper supply has recently remained tight, leaving scrap copper no considerable price advantage against refined copper. This incurred slight losses for both scrap copper smelters and copper processors, who slowed purchases of scrap copper. However, although cargo-holders had no interest in increasing scrap copper imports, the amount of goods arriving at ports has remained comparatively stable. As such, scrap copper inventories in November held flat with the previous month.
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