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SMM Weekly Review on Scrap Copper Consumption Advantages (Feb. 25- Mar. 1)
Mar 6,2013 10:34CST
smm insight
Source:SMM
The price differential between bare bright (including tax) and refined copper to shrink to RMB 600-800/mt, indicating scrap copper had less price advantage versus refined copper.

SHANGHAI, Mar. 6 (SMM) –The lack of a clear winner in Italian general election sent the US dollar index significantly higher over the past week. Risk aversion sentiment dampened risk assets, with copper futures prices extending declines. However, as scrap copper cargo-holders tended to withhold goods in the face of tight supply, scrap copper prices fell slower than refined copper. This caused the price differential between bare bright (including tax) and refined copper to shrink to RMB 600-800/mt, which indicated that scrap copper had less price advantage versus refined copper. Activity on the scrap copper market kept comparatively quiet as a result.
 

China scrap copper prices
China refined copper prices
scrap copper price advantage
scrap copper supply

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