“Buy, buy, buy whatever copper scrap, ingots, blister you see on the market. This is what I have been told,” a major Chinese copper smelter source told Fastmarkets.
As a result, the copper scrap No2 copper (birch/cliff), imported into China, 94-96%. LME/Comex discount, cif China
, compared with the cost of refined copper, has been stretched thinner in April. Fastmarkets assessed the discount at $0.24-0.265 per lb on April 27, compared with $0.26-0.29 per lb a month earlier.
“Supply globally is the hardest part at the moment,” a Southeast Asia-based scrap trader said.
Copper scrap production has shrunk in several major producing countries due to the restrictions put in place to prevent the...