Expected halt in Chinese copper scrap imports stretches Apr discount to widest in 3 years

Copper scrap sold into China in April was at the widest discount level in the past three years on a massive backlog of non-ferrous scrap due to the upcoming halt in July scrap imports after policy changes.

Fastmarkets assessment for the discount for No2 copper scrap, birch/cliff, imported in China is at 37-42 cents per lb on April 29, a significant stretch compared with 32-38 cents per lb a month before on March 25. Small parcels of Southeast Asian birch/cliff, as well as 95% copper nodules, were reported to be traded at 86-87% of the London Metal Exchange price, translating to...

Published

Julian Luk

April 29, 2019

16:00 GMT

London