Average February Operating Rate at Scrap Copper Smelters 51.1%

SHANGHAI, Mar. 12 (SMM) – According to the latest SMM survey, the average operating rate during February at the surveyed copper smelters fell to 51.1%, down slightly from the previous month. As domestic scrap copper supply remained extraordinarily tight during February, and since the price difference between scrap and refined copper narrowed further, scrap copper smelters turned unwilling to buy scrap copper. In addition, these scrap copper smelters generally scaled back order volumes from overseas markets during February owing to the Chinese New Year holiday factor, but opted to consume existing stocks to maintain normal production.