Copper scrap prices climb with Chinese buyers’ return
Oct 13, 2006 | 06:13 PM
| Sean Barry
U.S. copper scrap prices have risen on inventory drawdowns following the return of Chinese consumers and firmer primary copper.
Chinese consumers, the largest buyers of scrap during the past two years, have been slowly returning to the market during the past month, but are now placing large orders for all grades of scrap, traders said.
Firmer export trade has leant support to prices across the board, with brass ingot makers' No. 1 composition solids rising 2 cents to $2.16 a pound in the East and $2.15 a pound in the Midwest, while radiators have risen 4 cents to $1.73 a pound in both the East and the Midwest.....
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