US copper scrap at premium to Comex as refined metal prices fall
Apr 09, 2013 | 12:55 PM
| Mark Burton
LONDON High-grade copper scrap prices are trading at a premium to Comex tags in the U.S. market following a sharp swing lower in refined metal prices, sources told AMM sister publication Metal Bulletin at the Center for Copper and Mining Studies annual Cesco Week in Santiago, Chile.
Spot copper prices slumped to $3.3255 per pound on Comex last week, the lowest point since June, as funds built record short positions in the U.S. copper contract.
On the London Metal Exchange, prices dipped below $7,400 per tonne earlier this month, down nearly $1,000 from this years highs in February.....
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