Policy Uncertainty Slows Demand for Recycled Copper Raw Materials, Market Awaits Clarity

Publicado: Sep 4, 2024 22:41
[SMM Analysis: Policy Disturbance Causes Decline in Demand for Recycled Copper Raw Materials] In August, the Fed leaned dovish on the issue of interest rates, and a first rate cut is expected in September. Some Fed officials even believe that an immediate rate cut is necessary. Affected by this, copper prices rebounded from a bottom of 70,600 yuan/ton to 75,400 yuan/ton, with an increase of 4,800 yuan/ton. During the first month of implementation of the Regulation on the Review of Fair Competition, as local governments had not yet introduced specific implementation measures, recycled copper rod factories chose to halt production and wait for clearer policies in early August before resuming production. Trading of recycled copper raw materials was sluggish, and after reducing most of their inventories at the end of July, recycled copper raw material traders have successively suspended receipt of goods...

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[SMM Analysis: Policy Disturbance Causes Decline in Demand for Recycle - Shanghai Metals Market (SMM)