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Obvious tight supply of scrap copper and shrunk profit of scrap copper rod manufacturers
2020-9-14

Sep 14 (LTIT) – At the beginning of last week, copper prices went up, and scrap copper traders continued the high-level pre-sale operation, so that the scrap copper market was in short supply in the second half of the week. Scrap copper traders gave priority to meeting the previous high-priced orders, and some scrap copper rod manufacturers had difficulty in purchasing raw materials. On Friday, the price of Lingtong 1# bright copper wire dropped to 400 yuan, reflecting that it is more difficult to purchase high-quality scrap copper. The production capacity of scrap copper rods in Jiangxi is relatively concentrated, and the competition for scrap copper is more intense. The transaction price is relatively high in China, so some scrap copper sources in Shandong and Henan are inclined to Jiangxi. The rising purchasing cost of raw materials and the unsalable sales of scrap copper bars due to orders have all led to a narrowing trend of the profits of scrap copper bars.

 

It is estimated that the operating rate of scrap copper rod-making enterprises will be 69.89% in September, an increase of 1.61 percentage points month-on-month. Scrap copper rod-making manufacturers generally have low expectations for the traditional Golden September and Silver October, and the intensive potential demand is not obvious.(Source: Lingtong Metal Information)

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