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.
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