Birch cliff copper scrap market remains tight in South Eastern Europe
2014-09-08 16:06:02 [Print]
LONDON (Asian Metal) 8 Sep 14 - The European market for birch cliff copper scrap remains tight in South East Europe, according to traders that have spoken with Asian Metal at the end of the week. Sources report that the ratio to the LME copper cash buyer price remains in the region of 91-93% of the LME price, with prices adjusting downwards in line with Friday’s trade. Poor nonfarm payroll data from the USA – which significantly missed analyst estimates – saw the LME copper price fall initially, only to recover to a USD6/t gain by the end of the day to close at USD6,973/t in the second ring session. The three-month price of copper climbed up USD10/t to finish the day at USD6,960/t.
Birch cliff copper scrap was available on Friday in the region of USD6,345-6,415/t FOB South Eastern Europe, according to sources that spoke to Asian Metal. Most continued to bemoan the tight spot market, which shows no sign of disappearing in the near future.
One trader that spoke with Asian Metal explained that procuring material in the current market remains tough, although stressed that it was manageable with well-developed supply channels. The source gave Asian Metal a birch cliff copper scrap quote of USD6,415/t FOB South East Europe, when asked on Friday. The trader, who deals with some 300-400t of birch cliff copper scrap each month, explained that most of their business remains in the region but added that they also have occasional clients in the Far East with which they deal.
A second source, a trader also based in South Eastern Europe, explained that they are continuing to struggle to secure material from their suppliers. With most of their suppliers continuing to hold material in the hope of a dramatic improvement in the price of copper scrap, the trader is only able to deliver roughly 25t of birch cliff copper scrap per week. When asked by Asian Metal, the trader gave a quote for a container of bitch cliff copper scrap in the region of USD6,345/t FOB South Eastern Europe.
Birch cliff copper scrap was available on Friday in the region of USD6,345-6,415/t FOB South Eastern Europe, according to sources that spoke to Asian Metal. Most continued to bemoan the tight spot market, which shows no sign of disappearing in the near future.
One trader that spoke with Asian Metal explained that procuring material in the current market remains tough, although stressed that it was manageable with well-developed supply channels. The source gave Asian Metal a birch cliff copper scrap quote of USD6,415/t FOB South East Europe, when asked on Friday. The trader, who deals with some 300-400t of birch cliff copper scrap each month, explained that most of their business remains in the region but added that they also have occasional clients in the Far East with which they deal.
A second source, a trader also based in South Eastern Europe, explained that they are continuing to struggle to secure material from their suppliers. With most of their suppliers continuing to hold material in the hope of a dramatic improvement in the price of copper scrap, the trader is only able to deliver roughly 25t of birch cliff copper scrap per week. When asked by Asian Metal, the trader gave a quote for a container of bitch cliff copper scrap in the region of USD6,345/t FOB South Eastern Europe.
Copper Scrap Wire 99%min Delivered China
Unit:RMB/mt
China refined copper producers' sales to production ratio statistics by province by month
Unit: %
