Year-End Secondary Copper Raw Material Supply Tightness Persists, Primary-Scrap Price Gap May Widen

[Year-End Tight Supply of Secondary Copper Raw Material Remains Unchanged, But Price Difference Between Primary Metal and Scrap May Expand]

Entering December, the secondary copper raw material market remained deeply mired in a supply deficit, with no significant signs of relief. In the overseas market, as many countries entered holiday mode, market activity dropped sharply, and overall offers were scarce, further exacerbating the scarcity of secondary copper raw materials. Meanwhile, according to feedback from Ningbo import traders, due to the year-end demand for fund recovery and weak downstream purchase willingness, overall procurement volume continued to decline. Although a small amount of cargo has recently arrived at ports, most of these shipments were pre-booked, thus providing no relief to the spot supply in the market.