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SMM Weekly Review on Scrap Copper Consumption Advantages (Dec. 24-28)

iconDec 31, 2012 16:16
Source:SMM
The price gap between bare bright (including tax) and refined copper to widen marginally to RMB 900-1,200/mt, indicating that scrap copper still exhibited some price advantage against refined copper.

SHANGHAI, Dec. 31 (SMM) –SHFE copper prices posted strong performance early last week, although LME copper market was closed for the Christmas holiday, and continued moving higher later the week. In scrap copper market, the premium for VAT receipts slipped as the year's end approached, causing the price gap between bare bright (including tax) and refined copper to widen marginally to RMB 900-1,200/mt. This indicated that scrap copper still exhibited some price advantage against refined copper, boosting copper semis producers' enthusiasm in buying scrap copper. However, tight market supply resulted in muted scrap copper market activity.
 

China refined copper prices
China scrap copper prices
price gap
China scrap copper market

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