And new developments suggest that non-ferrous scrap imports into China will come to a screeching halt between June 15 and July 15, potentially leading to a supply overhang and subsequent price drop in the United States, sources told Fastmarkets.
In the meantime, however, US consumers were largely unfazed, with sources indicating that the market had eased somewhat over the past week.
“We’re not having any problems with supply. Everything is flowing fine. We’re getting what we need, when we need it, so we are pretty comfortable where we’re at on prices and discounts. There seems to be enough scrap available for anyone looking to consume it. We’re probably getting close to being oversupplied,” one US consumer said.
Copper and brass scrap prices were...