US No2 copper scrap discounts widen, supply rises

Fading domestic demand and rising supply for No2 copper scrap in the United States have pushed discounts wider, with all eyes on China’s impending scrap import regulations in July.

“In the last week we have seen sellers become desperate for placement of No2 copper scrap units. We’ve been offered tremendous volumes for May delivery but because we’re booked we are not in the market,” one US consumer said. “We’re being very methodical about how we are going to proceed with our buying because there is so much scrap out there.” Fastmarkets' assessment of the discount for refiners' No2 copper scrap and brass ingot makers’...


Bradley MacAulay

April 18, 2019

23:20 GMT