Scrap Copper Utilization Rate at Copper Wire Rod Producers Remains Low

SHANGHAI, Jan. 15 (SMM) – According to the latest SMM survey, scrap copper utilization rate at Chinese copper wire rod producers rose slightly in December from November, but still considered low levels.

In SMM's view, the price spread between scrap and refined copper expanded marginally during December and compelled copper rod producers to buy scrap copper at reasonable price levels. However, some producers told SMM that scrap copper importers expressed little interest in replenishing stocks in the face of low SHFE/LME copper price ratio, and since they were worried copper prices would slip in the future.