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[Cu] Weekly Review of Scrap Copper Market
SHANGHAI, Apr. 24 (CBI China) -- This week, average price of 1# bright copper was RMB 38,850/mt, down RMB 1,810/mt compared to last week. This week, continuous declines in the price depressed the high sentiment of scrap copper holders, leading to sell-off phenomenon in the market, so the resources were relatively ample in the market. The downstream processing enterprises were pessimistic about the market outlook and believe the price will fall further, leading to very slim transactions, so the trade volumes have fallen sharply compared to last week.
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