Copper scrap supply rises in August

Aug 28, 2014 | 04:16 PM | Saranya Kapur

Tags  copper scrap, No. 2 copper, scrap prices, scrap supply, Comex, Saranya Kapur

NEW YORK — Domestic copper scrap supply has improved in August as major generators of scrap, including original equipment manufacturers, are seeing a pickup in end-market demand, according to market participants.

"Manufacturers themselves are doing more business and generating more scrap, and despite (the summer) slowdown dealers are still buying, building up inventory and pushing it out," one scrap trader told AMM.

However, a second trader said that the added supply is more the result of an uptick in terminal market prices, which has compelled dealers to move inventory in hopes of capturing profits.

"Supply picked up slightly, as people who were holding material started selling when Comex moved up," the second trader said. "But the telephone just hasn’t been ringing as much today since the market is down again."....

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