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Scrap Copper Inventories Hold at 3 Day
Feb 8,2013 14:21CST
smm insight
Source:SMM
SMM's latest survey indicated that scrap copper inventories remained unchanged at 3 days in January, and considered low levels.

SHANGHAI, Feb. 8 (SMM) – SMM's latest survey indicated that scrap copper inventories remained unchanged at 3 days in January, and considered low levels. On account of environmental protection approval factor, some traders scaled back scrap copper imports during January, which were expected to drop to around 370,000 mt this month. This exacerbated domestic scrap copper supply constraints. Meanwhile, with the premiums for VAT receipts rising, scrap copper (including tax) had no noticeable price advantage against refined copper, which dampened downstream consumers' interest in purchasing scrap copper. Hence, scrap copper stocks continued moving at lows during January.
 

China scrap copper inventory
China scrap copper imports
scrap copper consumers

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