Copper scrap discount narrows for China after consumers return with Q1 2020 quotas
The discount for copper scrap imported into China has narrowed in December because Chinese consumers returned to the spot market to fill quotas granted for the first quarter of 2020.
Fastmarkets assessed the copper scrap No2 copper (birch/cliff) imported into China 94-96%, LME/Comex discount, cif China
at 35-40 cents per lb on Monday December 30. That compared with 38-40 cents per lb a month ago.
Traders cited increased inquiries in mid-December for scrap delivered in the...