Copper scrap gets help from Comex, exports
Oct 02, 2006 | 09:19 AM
| Sean Barry
U.S. copper scrap prices have nudged higher on increased overseas demand and a slight rise in primary copper prices on the Comex division of the New York Mercantile Exchange.
Export activity has increased as Chinese consumers, the largest buyers of scrap over the past two years, return to the market in greater numbers and pay higher prices to secure tonnage, according to traders.
But inventory levels remain high as domestic buying has failed to pick up in the wake of a decrease in demand for copper-based products in the construction and housing markets.....
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