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Mar.29.2024 1USD=7.095RMB
  SteelHome >>Nonferrous Metals>>Market Info>>International Dynamics
 
Copper Scrap Prices Lack Upward Momentum

https://en.steelhome.com [SteelHome] 2019-04-11 09:37:29

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Amid insufficient trade volume on the copper scrap market the recent prices persist a weak steady pace. At the end of March, the LME electrolytic copper prices recovered in part, but the sagging demand domestically seems to interrupt the prices from going upward.

The copper scrap prices on distribution channels weakened early in the year rose up to near-7,000,000 won per ton for the quality copper selling prices supported by the LME electrolytic copper value hike during February and March, but collapsed down to the level of 6,850,000 won per ton after the end of March seen adjustment.

As of April 5, the electrolytic copper prices increased $144 per ton from the week earlier, but the copper scrap prices ended at the level of steadiness.

Despite the demand constraints for copper scrap domestically, the copper scrap imports continued increase, by 2.3 percent totaling 338,644 metric tons last year. Through February this year, the imported quantities boosted 107 percent exceeding 60,000 tons year on year.

Meanwhile, Korea’s copper scrap export tonnage sat down by 19.6 percent last year due to the Chinese government’s import restrictive measure, but the export revived with a 42.2 percent by February this year. Even though the export shipped to China decreased 36.0 percent, but shipment headed to Malaysia surged 755.0 percent.

Source: Steel&Metal News
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