Overseas high prices squeeze domestic imports of secondary copper, leading to an inverted price structure

Published: Jul 21, 2025 17:39

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According to SMM, the current supply of secondary copper remains tight. US tariff policies have led to the near disappearance of US sources, while prices from other countries remain high, resulting in severe inverted import prices. Traders in Ningbo reported that despite a nearly 1,000 yuan/mt surge in SHFE copper prices, bare bright copper in Zhejiang still traded at an 800 yuan/mt discount, with traders clearly refusing to budge on prices. For secondary brass, constrained by weak demand, price fluctuations were only 300-500 yuan/mt, making it difficult to follow the futures market rally. Overseas brass prices were 1,000-1,500 yuan/mt higher than domestic prices, resulting in significant import losses, and overall tight supply in Zhejiang.

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