Chinese copper purchases propelling US scrap market

Oct 23, 2006 | 09:13 AM | Sean Barry

U.S. copper scrap prices have nudged up as stocks begin to tighten following the return of Chinese buyers to the market.

A surplus of inventory that had built up during the summer shutdown period has now been drawn down and material is becoming harder to secure as overseas activity picks up, traders said.

Chinese consumers, the largest buyers of scrap during the past two years, are becoming much more aggressive as internal stocks reach low levels.....

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