Chinese copper scrap prices report slight decline on Index 7th March, 2017

Published: Mar 09, 2017 10:41 (GMT+8)

Save

Chinese copper scrap prices declined marginally on Scrap Monster Price Index on Tuesday, March 7th.

By Anil Mathews

BEIJING (Scrap Monster): The Chinese copper scrap prices witnessed marginal downfall on ScrapMonster Price Index as on Tuesday, March 7th.

#1 Copper Bare Bright prices were down by CNY 100 per MT over the previous day. The price of #1 Copper Wire and Tubing and #2 Copper Wire and Tubing too declined marginally by CNY 100 per MT each.

#1 Insulated Copper Wire 85% Recovery prices were unchanged at CNY 28,250 per MT upon comparison with the previous day. The price of #2 Insulated Copper Wire 50% Recovery remained unchanged over the previous day.

Copper Transformer and Cu Yokes prices remained flat over the previous day.

Cu/Al Radiator scrap prices too held steady over the day. Harness Wire 35% Recovery prices held steady.

Heater Cores prices remained flat at CNY 27,600 per MT on Tuesday, March 7th.

Meantime, Scrap Electric Motors and Sealed Units prices remained unchanged when compared with the previous day.

Chinese copper scrap prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

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

Related News

4 mins ago

Sparse market trading before the holiday; watch for spot inventory changes after the holiday [SMM Shandong copper cathode spot weekly review]

4 mins ago

10 mins ago

Tighter China Customs Inspections Delay Copper Scrap Cargoes, Nearly 10,000 Tonnes Queuing in Hong Kong

Chinese customs inspections on imported recycled copper raw materials have continued to tighten, leaving a growing volume of non-compliant copper scrap held up at ports. According to SMM market checks, nearly 10,000 tonnes of copper scrap are currently waiting in Hong Kong for entry into Guangdong. Longer customs clearance times are increasing inventory and working-capital pressure on some traders. The affected cargoes are mainly No.2 copper originating from Latin America and Southern Europe. With customs inspections remaining stringent, disruptions to scrap inflows are reducing the effective availability of imported copper scrap in the Chinese market and adding to near-term supply tightness.

10 mins ago

12 mins ago

China Copper Scrap Pricing Coefficients Rise, Higher Chinese Bids Lift Overseas Markets

China's copper scrap pricing coefficients moved broadly higher this week, supported by tight invoice availability, elevated refined copper spot premiums and disruptions to overseas scrap imports. Tight domestic feedstock availability has prompted Chinese buyers to raise bids. Millberry is currently quoted at around 98.5%–99.5% of LME copper, No.1 copper at 97.5%–98.5%, and No.2 copper at around 96.5%, while some No.2 material containing gold and silver can reach around 98%. Higher Chinese bids are increasingly feeding through to overseas markets, strengthening sellers' pricing expectations and pushing up copper scrap coefficients in several regions. With China's invoice constraints yet to ease materially and imported scrap availability remaining tight, copper scrap pricing coefficients are expected to remain well supported in the near term.

12 mins ago