SHANGHAI, Dec. 18 (SMM) –The US Fed continued introducing loose monetary measures, and markets also had strong expectations that China would adopt economic stimulus measures, helping copper futures prices fluctuate at highs. But scrap copper prices increased slower than refined copper and caused the price spread between bare bright (including tax) and refined copper to move marginally higher to RMB 900-1,100/mt. This created some profit room for copper semis processors who exhibited some willingness in buying scrap copper, enlivening market activity. However, domestic scrap copper supply was still very tight, so SMM believes that scrap copper is unlikely to enjoy the price advantage against refined copper over the long term.
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