No2 copper scrap cargoes have been sold to Asia and Europe at large discounts recently over concerns of the cargoes not meeting new Chinese customs criteria for recyclable material, industry sources told Fastmarkets.
Theoretically, the birch/cliff cargoes, containing copper content of 94-96%, could qualify for import to China as No2 copper material, RCu-2B under the new policy which took effect last November.Some cargoes were recently sold to copper smelters in...