Copper plunge curbs China buys of scrap

Apr 20, 2011 | 01:17 PM | Shi Lili

Tags  China, copper scrap, copper, LME, Comex

BEIJING — Chinese copper scrap traders are curbing purchases of high-quality scrap like bare bright from U.S. and European markets amid fears that copper prices on the London Metal Exchange and Comex will continue to tumble.

"Since the market is undergoing big plunges since last week, we see there is further room for declines and there is no sense for us to hang on to these stocks," according to a copper scrap buyer in Nanhai, Guangdong province.....

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