China copper scrap discount widest in 8 months; blister spot availability up, supports RC

The spread between copper scrap and refined copper continued to widen in August amid the copper price rally and minimal buying interest from the Chinese due to logistics and customs clearance worries in the coming months.

Fastmarkets assessed the price of copper scrap No 2 copper (birch/cliff) imported into China 94-96% LME/Comex discount, cif China basis at 32-36 cents per lb on Friday August 28, versus 28-33 cents per lb a month earlier.
Notably the spread between No 2 and refined copper is currently at its widest since January 2020 when buying interest was non-existent ahead of the Lunar New Year.

In the last month, few parcels were reported being sold at...

Published

Julian Luk

September 02, 2020

15:30 GMT

London