SMM Weekly Review on Scrap Copper Consumption Advantages (Feb. 18-22)-Shanghai Metals Market

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SMM Weekly Review on Scrap Copper Consumption Advantages (Feb. 18-22)

SMM Insight 02:04:07PM Feb 26, 2013 Source:SMM

SHANGHAI, Feb. 26 (SMM) –In the face of weak European economic data, LME copper prices hovered around USD 8,200/mt instead of experiencing considerable increases during the Chinese New Year holiday period. Post-holiday copper futures prices dipped rapidly due absent Chinese buying, but scrap copper cargo-holders exhibited strong reluctance in moving goods, causing the price gap between bare bright (including tax) and refined copper to narrow to RMB 800-1,200/mt. This meant that scrap copper enjoyed less price advantage against refined copper, depressing downstream consumer interest in purchasing scrap copper.

 

SMM Weekly Review on Scrap Copper Consumption Advantages (Feb. 18-22)

SMM Insight 02:04:07PM Feb 26, 2013 Source:SMM

SHANGHAI, Feb. 26 (SMM) –In the face of weak European economic data, LME copper prices hovered around USD 8,200/mt instead of experiencing considerable increases during the Chinese New Year holiday period. Post-holiday copper futures prices dipped rapidly due absent Chinese buying, but scrap copper cargo-holders exhibited strong reluctance in moving goods, causing the price gap between bare bright (including tax) and refined copper to narrow to RMB 800-1,200/mt. This meant that scrap copper enjoyed less price advantage against refined copper, depressing downstream consumer interest in purchasing scrap copper.