Copper Scrap News Today

An inverted duty structure refers to a situation where taxes on input items are higher compared to the final product resulting in a drag in export competitiveness.

To better meet the needs of its clients and to stay in tune with the market, SMM will be introducing CIF (Cost, Insurance, and Freight to China) pricing for copper scraps. This includes but isn't limited to imported #1 copper, #2 copper, #1 copper granule, and #2 copper granule. These prices will be officially available on the SMM website (smm.cn) from September 1, 2023.

US International Trade Commission data for the first half of 2022 shows a shifting of exports from the US, with imports to China growing while imports to Malaysia sharply fell. While other countries also experienced changes in import numbers, exports to Malaysia and China saw dramatic changes to quantities and market share due to changing import regulations over the past several years.

China bought significantly more copper scrap in the form of recyclable copper material last year, despite supply disruptions stemming from regulation changes in Malaysia and Europe.

China bought significantly more copper scrap in the form of recyclable copper material last year, despite supply disruptions stemming from regulation changes in Malaysia and Europe.

The copper rod plants using copper scrap as the raw material have reduced the output amid tight supply of scrap and production losses. The end-users consumption has been suppressed by the global energy crisis, power rationing and rising prices of natural gas in China, pushing down the operating rates of scrap users. The market demand for copper scrap as raw materials declined, which is beneficial to the improvement of supply-demand of copper scrap. The restocking of raw materials by the copper r...

Aurubis, Europe’s biggest copper producer, is considering plans to set up a new copper scrap processing facility in North America to tap into the growing availability of raw materials outside China and Malaysia, the company’s chief executive told Fastmarkets.

Market mood was bullish as copper prices soared after the Labour Day holidays. Upstream recycling outlets and intermediate traders held cargoes back, leading to tight supply of goods available in the spot market.

Suppliers of secondary copper held onto their cargoes early last week when copper prices surged, tightening supply noticeably. Traded prices of #1 bare bright copper rose sharply, resulting in a sharp decline in the price spread between copper cathode and copper scrap.

Copper prices surged to record new highs after the Chinese New Year (CNY) holiday, while the the price spread between copper cathode and copper scrap fluctuated vigorously. The tax-included price spread between 1# bare bright copper and copper cathode rose to the second highest on record of 3,779 yuan/mt on February 25. It touched an all-time high of 3,936 yuan/mt on February 22.  Please sign in to continue reading the full article for free Already registered? Sign in