The discount for No2-grade copper scrap in China widened this month on higher availability because Chinese buyers have quickly used up the import quotas granted by the government.
The value for copper scrap No2 copper (birch/cliff), imported into China, 94-96%, LME/Comex discount, cif China, was $0.32-0.36 per lb on Monday July 29, compared with $0.29-0.35 per lb on June 24.Scrap material from Southeast Asia was reported being sold at around 88% of the London Metal Exchange three-month price during the first four weeks of July, while some United States-origin scrap was being offered at a discount of mid-$0.30s per lb to those eligible to buy on a tariff-free basis."We have...