Aggressive China buys, falling stocks lift lower-grade copper
Oct 17, 2005 | 10:34 AM
| Sean Barry
A combination of unbridled Chinese demand and dwindling stocks has driven up U.S. prices for lower-grade copper scrap.
Domestic consumers of grades such as radiators are struggling to compete against a wave of aggressive Chinese pricing, traders and consumers said, while surging demand has squeezed stocks.
"It's a challenging market right now. The Chinese are being quite aggressive and there's simply not enough material to go around," one scrap trader said. "The brasses are not so linked to the terminal markets, but they are still being supported because copper continues to record historically high average prices on the exchanges."....
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