Home / Metal News / Copper / Copper Scrap Discounts Expand in China as Metal Prices Rebound on LME
Copper Scrap Discounts Expand in China as Metal Prices Rebound on LME
Apr 8,2014 17:24CST
industry news
Source:SMM
The rebound in copper prices enlarged scrap discounts yet did not improve scrap supplies in the Chinese market, Shanghai Metals Market has learned.

SHANGHAI, Apr. 8 (SMM) – The rebound in copper prices enlarged scrap discounts yet did not improve scrap supplies in the Chinese market, Shanghai Metals Market has learned.

#1 bare bright copper discount to cathodes expanded to 600-1,000 yuan ($97-162) per tonne, from 400-800 yuan per tonne nearly a month ago. London Metal Exchange copper prices staged a rebound after plunging to below $6,400 per tonne in mid March.

Despite the increasing price advantage over refined metal, scrap copper dealers were unwilling to sell, exacerbating a supply shortage, according to SMM’s research team. Downstream users increased the proportion of refined copper in production due to limited low-price scrap available in the market.

 

China scrap copper shortage
China scrap copper prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn