Weaker price advantage lowers copper scrap consumption in Apr

From news.metal.com

Chinese copper smelters and processors consumed less copper scrap in April assmaller price discounts against copper cathode lowered the appeal of copper scrap. SMM data showed that copper scrap consumption across China came in at 188,900 mt in April, down 7.85%, or 16,100 mt, from March. About 59.77%, or 112,900 of copper scrap consumed in April were imported. Consumption across processors accounted for 56.8%, or 107,300 mt, down 7,600 mt month on month. With poorer orders, the average operating rate across copper rod producers who use copper scrap as feedstock—a major copper scrap consumer—lost 4.27 percentage ... (full story)