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[Cu] Weekly Review - Scrap Copper Market
SHANGHAI, July 10 (CBI China) -- Average prices for 1# bring scrap copper were RMB 37,460/mt during this week, down RMB 580/mt. Scrap copper supply remained tight in all regional markets, and middlemen faced difficulties in cargo replenishment, so their unwillingness to move goods was very obvious, leading to supply shortages in spot market. Scrap copper holders were firm with their offers despite of price declines during this week, but the wait-and-see attitude dominated the downstream buyers, resulting in lukewarm trading sentiment in the market.
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