Copper Wire Rod Producers Use Low Scrap Copper-Shanghai Metals Market

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Copper Wire Rod Producers Use Low Scrap Copper

SMM Insight 10:27:15AM Apr 10, 2013 Source:SMM

SHANGHAI, Apr. 10 (SMM) – According to a most recent SMM survey of 21 major domestic copper wire rod producers (total capacity: 3.8 million mt/yr), copper wire rod producers continued to use low scrap copper in March. Scrap copper price advantages decreased sharply since scrap copper prices were resistance to declines compared to copper prices. Especially after spot copper prices fell below RMB 56,000/mt, scrap copper cargo holders were unwilling to sell goods. Quotes for #1 bare bright copper had been higher than refined copper by late March, so almost all copper wire rod enterprises surveyed stopped using scrap copper.
 

Copper Wire Rod Producers Use Low Scrap Copper

SMM Insight 10:27:15AM Apr 10, 2013 Source:SMM

SHANGHAI, Apr. 10 (SMM) – According to a most recent SMM survey of 21 major domestic copper wire rod producers (total capacity: 3.8 million mt/yr), copper wire rod producers continued to use low scrap copper in March. Scrap copper price advantages decreased sharply since scrap copper prices were resistance to declines compared to copper prices. Especially after spot copper prices fell below RMB 56,000/mt, scrap copper cargo holders were unwilling to sell goods. Quotes for #1 bare bright copper had been higher than refined copper by late March, so almost all copper wire rod enterprises surveyed stopped using scrap copper.