US copper scrap market upbeat on potential revival of Chinese demand

The outlook for continuing Chinese demand for copper scrap from the United States, especially No2 copper (birch/cliff), is cautiously optimistic among market participants.

This was reinforced by a decline in the discount for No2 copper scrap imported into China. Fastmarkets assessed the discount for birch/cliff, 94-96% copper, on a cif China basis at 34-38 cents per lb on Monday May 27, down from 37-42 cents per lb range seen on April 29.

During a panel discussion at Fastmarkets' 5th Annual Copper Seminar on June 5 in New York, scrap industry executives discussed the long-term impact of the Chinese scrap import ban and how it was reshaping material flows.
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Published

Rijuta Dey Bera

June 07, 2019

20:50 GMT

New York