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SMM Weekly Review on Scrap Copper Consumption Advantages (Feb. 18-22)
Feb 26,2013 14:04CST
smm insight
Source:SMM
The price gap between bare bright (including tax) and refined copper to narrow to RMB 800-1,200/mt, meaning that scrap copper enjoyed less price advantage against refined copper.

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.

 

China scrap copper
China refined copper
bare bright copper
scrap copper price advantage

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