China Scrap Copper Demand Soared in April-Shanghai Metals Market

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China Scrap Copper Demand Soared in April

SMM Insight 10:56:57PM Jun 05, 2013 Source:SMM
SHANGHAI, Jun. 5 (SMM) – According to the China Nonferrous Metals Industry Association, China’s refined copper output in April was 557,300 mt, down 3,200 mt from March’s 560,500 mt. Of them, primary copper output was 357,200 mt, while secondary copper output was 200,100 mt. The proportion of secondary copper to total refined copper output during the first four months advanced to 34.17% from the 32.36% a year earlier, with secondary copper output over the same period also up 21.05% YoY to 718,800 mt. Thus, scrap copper demand rose rapidly. China’s scrap copper imports which account for more than 50% of domestic scrap copper supply dropped 4.65% YoY through the first four months. That, combined with low selling interest among scrap copper sellers, domestic scrap copper fell short. However, copper smelters’ production in April was little affected by the tight supply for scrap copper.
 

China Scrap Copper Demand Soared in April

SMM Insight 10:56:57PM Jun 05, 2013 Source:SMM
SHANGHAI, Jun. 5 (SMM) – According to the China Nonferrous Metals Industry Association, China’s refined copper output in April was 557,300 mt, down 3,200 mt from March’s 560,500 mt. Of them, primary copper output was 357,200 mt, while secondary copper output was 200,100 mt. The proportion of secondary copper to total refined copper output during the first four months advanced to 34.17% from the 32.36% a year earlier, with secondary copper output over the same period also up 21.05% YoY to 718,800 mt. Thus, scrap copper demand rose rapidly. China’s scrap copper imports which account for more than 50% of domestic scrap copper supply dropped 4.65% YoY through the first four months. That, combined with low selling interest among scrap copper sellers, domestic scrap copper fell short. However, copper smelters’ production in April was little affected by the tight supply for scrap copper.