Copper Prices Soar, Scrap Utilization Falters Amid High Prices

Copper prices rose on August 11, closing at 108,620 yuan/mt, up 850 yuan/mt from the previous trading day. The average spot premium was 60 yuan/mt, down 20 yuan/mt from the previous month.

The price of copper scrap remained flat month-over-month. However, the sales sentiment index for copper scrap rose to 2.77, while the purchase sentiment index fell to 1.86.

A key indicator is the price spread between copper cathode and copper scrap, which increased to 5,234 yuan/mt, up 830 yuan/mt from the previous month. Additionally, the difference in price between copper cathode rod and secondary copper rod was 2,080 yuan/mt.