Scrap Copper Use at Copper Plate, Sheet, Strip and Foil Producers at 20.7%-Shanghai Metals Market

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Scrap Copper Use at Copper Plate, Sheet, Strip and Foil Producers at 20.7%

SMM Insight 03:41:55PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – In March, the average price difference between #1 bare bright copper (including tax) and refined copper narrowed to RMB 171/mt, significantly reducing consumption advantages of scrap copper. The latest SMM survey finds that scrap copper consumption at major domestic copper plate, sheet, strip and foil producers reached 20.7% in March, up slightly from February, mainly because that fewer working days in February resulted in lesser use of scrap copper, and availability of scrap copper inventories for consumption in March. In April, the proportion of scrap copper used as raw material for production is hardly to rise in April, as the narrowed price gap between scrap and refined copper has dampened producers’ enthusiasm in buying scrap copper.
 

Scrap Copper Use at Copper Plate, Sheet, Strip and Foil Producers at 20.7%

SMM Insight 03:41:55PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – In March, the average price difference between #1 bare bright copper (including tax) and refined copper narrowed to RMB 171/mt, significantly reducing consumption advantages of scrap copper. The latest SMM survey finds that scrap copper consumption at major domestic copper plate, sheet, strip and foil producers reached 20.7% in March, up slightly from February, mainly because that fewer working days in February resulted in lesser use of scrap copper, and availability of scrap copper inventories for consumption in March. In April, the proportion of scrap copper used as raw material for production is hardly to rise in April, as the narrowed price gap between scrap and refined copper has dampened producers’ enthusiasm in buying scrap copper.