Copper scrap tags to rise on Chinese return

Dec 08, 2006 | 04:07 PM | Sean Barry

U.S. copper scrap prices could jump higher in the New Year as traders report growing signs of interest from Chinese consumers.

Business activity from Chinese consumers, the largest buyers of scrap over the past two years, has been marginal for many months, but traders report a recent increase in inquiries from dealers in China looking to replenish depleted stocks.

"We've had a steady increase in tentative inquiries from dealers in China," said one scrap trader. "There are signs in China that de-stocking may have run its course and that buyers could be in for all types of scrap in the New Year."....

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