More Chinese copper scrap surfaces amid price rally, dampens import interest

Copper scrap yards across China are keen to offload their stock following a recent rally in the red metal price, dampening Chinese buyers’ interest in overseas materials.

"Suddenly we are seeing more copper scrap, even old wires and rod, being offered at discount as big as 900 yuan ($139). The discount was very slim prior to Lunar New Year holiday (February 11-17)," a trader said.
"These days I do not look at the offers of imported copper scrap at all," the source added.

The Shanghai Futures Exchange...

Published

Julian Luk

February 25, 2021

08:45 GMT

Hong Kong