Refined Copper Price Gain Widens Spread from Scrap Prices in China

Copper scrap prices in China were limited last week as refined copper prices rose, widening the spread between the two.

Refined copper prices increased during the period from July 20-24, while copper scrap prices followed but with more muted gains due to sluggish trading activity in the spot market.

The Mysteel Copper Weekly report suggests that refined copper prices will likely remain range-bound in the near term, with copper scrap prices potentially being less resilient due to weak supply and demand. This could keep the refined-scrap price spread elevated in the short run.