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SMM Weekly Review on Scrap Copper Consumption Advantages (Feb. 4-8)
Feb 8,2013 14:06CST
smm insight
Source:SMM
Scrap copper enjoyed some price advantage against refined copper, but scrap copper transaction volumes remained thin due to the Chinese New Year holiday factor.

SHANGHAI, Feb. 8 (SMM) –Inasmuch as market sentiment turned around last week in the face of stable economic data from both China and the US, copper futures prices continued hovering at highs. Scrap copper prices, though, posted smaller gains than refined copper, leading the price spread between bare bright (including tax) and refined copper to expand further to RMB 1,000-1,200/mt. This indicated that scrap copper enjoyed some price advantage against refined copper, but scrap copper transaction volumes remained thin now that most scrap copper smelters and downstream consumers exited markets for the Chinese New Year holiday.
 

China refined copper
China scrap copper prices
China scrap copper transactions

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