Scrap Copper Inventories Hold at 3 Days-Shanghai Metals Market

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Scrap Copper Inventories Hold at 3 Days

SMM Insight 05:44:40PM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – SMM's latest survey found that scrap copper inventories held at 3 days in December, and stilled considered low. Although China's scrap copper imports reached a new high of 470,000 mt in November, China's scrap copper stocks failed to increase. China's scrap copper supply had remained tight for a prolonged period of time, and as the premiums for VAT receipts slipped slightly in December, the price differential between scrap (including tax) and refined copper expanded. This enticed downstream consumers to buy scrap copper aggressively, so scrap copper inventories held at 3 days through December.

 

Price

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Aluminum Ingot
Oct.18
14000.0
40.0
(0.29%)
Aluminum Ingot - Fo Shan
Oct.18
13960.0
30.0
(0.22%)
Aluminum Ingot - Wu Xi
Oct.18
14000.0
20.0
(0.14%)
Aluminum Ingot - Hang Zhou
Oct.18
14040.0
55.0
(0.39%)
Aluminum Ingot - Chong Qing
Oct.18
13980.0
60.0
(0.43%)

Scrap Copper Inventories Hold at 3 Days

SMM Insight 05:44:40PM Jan 15, 2013 Source:SMM

SHANGHAI, Jan. 15 (SMM) – SMM's latest survey found that scrap copper inventories held at 3 days in December, and stilled considered low. Although China's scrap copper imports reached a new high of 470,000 mt in November, China's scrap copper stocks failed to increase. China's scrap copper supply had remained tight for a prolonged period of time, and as the premiums for VAT receipts slipped slightly in December, the price differential between scrap (including tax) and refined copper expanded. This enticed downstream consumers to buy scrap copper aggressively, so scrap copper inventories held at 3 days through December.