Over the past month, Chinese importers have been keen to buy overseas copper scrap at more competitive prices, with scrap production shrunk by the effects of the Covid-19 pandemic, as well as disruptions in the supply of substitute copper products from Africa.
"Buy, buy, buy whatever copper scrap, ingots, blister you see on the market. This is what I have been told," a major Chinese copper smelter source told Fastmarkets.Copper scrap production has shrunk in several major producing countries due to the restrictions put in place to prevent the...