Metals News
Scrap Copper Inventories Hold at 3 Days
smm insight
05:44PM
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.

 

China scrap copper inventory
China scrap copper supply
China scrap copper market
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