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[Cu] Weekly Review of Scrap Copper Market
SHANGHAI, Apr. 3 (CBI China) -- This week, the average price of 1# bright scrap copper was RMB 32,920/mt, down RMB 1,560/mt compared to last week. As to supply, the traders were optimistic about the market outlook and had high interest in import due to price rebound. However, they were also reluctant to sell, leading to tight supply in the market. As to demand, the narrowing price gap between scrap copper and refined copper depressed the buying sentiment of the downstream producers, while the traders` price hike also restricted the transactions. In general, the transactions still remain in low level, with up slightly during this week compared to last week.
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